Cordiant to invest in Omsk region

ERJ staff report (DS)

Omsk, Russia -- Russian tyre maker Cordiant is to invest more than euro 240 million to add capacity for passenger car tyres and super-large tyres in the Omsk region between now and 2020.

The announcement follows the signing of an agreement between Dmitry Sokov, General Director of JSC "Cordiant" and Viktor Nazarov, the governor of the Omsk region covering cooperation in the development of the tyre industry in the Omsk region.

Cordiant said its strategic development calls for several major investment projects, including new production facilities for passenger car tyres and super large tyres.

No further details were released. Cordiant - the former tyre operations of Sibur-Russian Tyres --  operates two related car tyre factories in Omsk, one of which was previously a joint venture with Matador.

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Press release from Cordiant (Russian language)