Cordiant team studies Dneproshina acquisition - source

ERJ staff report (DS)

Ukraine -- ERJ has heard from a source close to the deal that a team from Russian tyre maker Cordiant visited the tyre plant at Dneproshina, Ukraine in late June as part of a due diligence that they are carrying out ahead of a possible purchase of the plant. The seven-man team included engineers, an economist and a lawyer.

The plant went into Chapter 11 in 2010 and was reopened under the auspices of the main creditors at the end of 2011. The main creditors are the Raiffeisen Bank International AG and the Ukraine Exim Bank, which is the largest state owned bank in the Ukraine.

Naumenko Roman Petrovich is currently Acting Director-General "Dniproshina"

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Press release listing from Dneproshina (mixed Russian and Ukrainian language)

Above listing auto-translated (from Ukrainian language)