Bridgestone joins Continental & Cordiant within Russia’s S8 Capital

After receiving all regulatory approvals, the sale of Bridgestone’s Russian assets to S8 Capital has been completed. Bridgestone Europe NV/SA has transferred its tyre manufacturing facility in Ulyanovsk and sales and marketing office in Moscow to the investment company. Thus ends a relationship with Russia that began in 1998.

Bridgestone suspended all manufacturing activities in Russia in March 2022. Since that time, the company “continued to support its Russian employees” by paying their salaries and employee benefits in full, and this local workforce – approximately 1,000 people – now transfers to S8 Capital.

According to Bridgestone, the transfer of its assets to S8 Capital will have a “minor” impact on its consolidated projections for 2023.

Bridgestone won’t be lonely in its new home. In May 2023, Continental sold its tyre factory in Kaluga, Russia to S8 Capital. The plant is now producing Gislaved-branded tyres. That same month the investment company acquired a 100 per cent shareholding in tyre maker Cordiant.