Moscow -- Sibur-Russian Tyres is under new ownership. The former parent, Sibur Holding has sold the unit to a group of managers headed by Vadim Gurinov who led the company for seven years.
The new company owns the assets known as Yaroslavl Tyre Plant; OJSC Omskshina and the former joint venture at the Omsk plant now known as Kordiant East as well as JSC Voltair Prom, which makes agricultural and implement tyres. The unit also owns a tyre factory in the Urals, called Uralshina. The Yaroslvl plant is likely to produce tyres aimed at European markets, and it is being expanded.
In 2012, said the company, it expects to increase capacity there to 1 million units/year of steelcord tyres, with the addition of a new line with capacity for 650 000 unit/year.
The company also expects to merge the two factories in Omsk. One was originally a joint venture between Matador and Sibur. Continental acquired Matador's stake with the acquisition of Matador. Conti then sold its stake back to Sibur in 2011, when it announced its own plans to build a new greenfield tyre factory in Russia. Sibur Russian Tyres aims to merge the former JV unit with its own tyre factory in Omsk. This will increase productivity, said the company.
At Voltair, the company intends to focus on agricultural and industrial tyres and become Russia's leading centre for these products.
The company said it has around 20 percent of the Russian market for tyres at the end of 2010. The main brands of the company are Cordiant (passenger and light truck tyres) and TyRex (truck and agricultural tyres.)
The new management said it has the abilities and resources to turn Sibur-Russian Tyres into one of the most effective Russian tyre manufacturers.
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Press release from Sibur-Russian Tyres (Russian Language)
Above press release auto-translated into English (from Russian)