Bridgestone seeking buyer for its Russia operations

Following its decision in March to suspend all manufacturing activities in Russia, Bridgestone has officially initiated the process of finding a local buyer for its Russian assets. The process of finding a buyer and closing any subsequent deal is expected to take “several months”.

Bridgestone has been present in Russia since 1998 and has over 1000 employees in the country, mainly in its tyre manufacturing plant in Ulyanovsk and sales and marketing office in Moscow. However, the company’s Ulyanovsk tyre factory only made its first tyre in December 2016 and officially opened in May 2017.

Since the March announcement, Bridgestone has continued to support its Russian employees by “paying their salaries and employee benefits in full”. In line with the values promoted by the Bridgestone E8 Commitment and in recognition of its employees’ contribution over the years, the company will continue to provide the same support to its employees.

Bridgestone’s business in Russia represents less than 2 per cent of the company’s global turnover.