Amtel Mortgages Retain Chain for Materials – Report

Reports out of Moscow say that struggling Amtel-Vredestein is using its retail chain as collateral to obtain tire raw materials from rival Sibur-Russian Tyres.

The feedstock will be directed to A-V’s plant Amtel-Volga. The collateral against the loan, not to exceed $20 million, according to reports, is A-V’s AV-VTO retail store chain, currently valued at $150 million. (Tire Review/Akron)