Amtel Vredestein Shuts Down Moscow Tyre Plant

Amtel Vredestein has reportedly shut down production at the Moscow Tyre Plant. Informed sources told Tyres & Accessories that the move paves the ways for the sale of the factory’s tyre production equipment. The news came only a day after the AK&M agency reported that Alexei Gurin has been appointed as the director general of the Moscow Tyre Plant. This report stated that the plant continues to manufacture pneumatic tyres for cars and trucks under the Taganka trade name. No-one at Amtel_Vredestein’s press department in Russia was available to comment.

According to the AK&M report, in Moscow Tyre Plant’s 2005 net losses rose to reach 137.96 million Rubles (3.72 million euros) from 90.3 m Rub. (2.44 m euros) the previous year; revenues declined 2.8 per cent to 1.2 billion Rub. (32.4 million euros) during the same period.

In December Amtel-Vredestein announced that it was discussions with “a number of companies” regarding the possible sale of its Moscow tyre manufacturing unit. No further details were announced. At the company explained that production would be transferred to its Voronezh, Russia facility in this event.