Ulyanovsk, Russia – Bridgestone is preparing to start up its first plant in the Russia/CIS region - slightly later than scheduled - in the second half of 2016 , Russian news agency TASS has reported.
The Japanese tire maker, it said, was now in the pre-commissioning phase at the $150 million passenger car tire facility in the Zavolzhye industrial zone in Ulyanovsk Oblast.
As announced by Bridgestone in April 2013, the plant was due to come on stream in the first half of 2016. Capacity there is slated to reach around 12,000 units a day in 2018 and mainly comprise winter tires for the Russia/CIS market.
Around 800 jobs will be created at the plant, operated by Bridgestone Tire Manufacturing C.I.S. LLC, a tire manufacturing company jointly established by Bridgestone and minority partner Mitsubishi Corp., with a 10-percent equity holding.
With the establishment of the tire manufacturing company, Mitsubishi will take an equity stake in Bridgestone C.I.S. LLC (BSCIS), a sales company established in Moscow by Bridgestone.
Bridgestone will have 80 percent equity ownership of BSCIS, with the remaining 20 percent held by Mitsubishi.