Sibur to make decision on Kirov tyre plant today - report

ERJ staff report (DS)

Kirov, Russia -- Today, the board of directors will consider the plan to buy the tyre factory in Kirov previously owned by Amtel Tyres. Paradoxically, the move would bring Sibur's exit from tyre manufacturing one step closer. Sibur would, within a few months, sell the Kirov plant and other assets to joint ventures controlled by Russian Technologies and Pirelli.

Sibur has been responsible for the day to day management of the Kirov plant for some months, after acquiring debts and other financial obligations, though the factory was still officially owned by the banks and other creditors of the defunct Amtel Group.

Output of the Kirov plant in the first half of 2011 reached 3.24 million units, according to the Russian business daily, RBC

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Press report in RBC (Russian language)

Above report auto-translated from Russian