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Titan: Russia-Ukraine war hasn’t impacted global operations

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Voltyre-Prom; Titan International

OTR tyre specialist Titan International, which owns the Voltyre-Prom tyre manufacturing operation in Russia, is bracing itself for “the potential impact of bans, sanction programs, and boycotts…” due to Russia’s recent invasion of Ukraine. However, deep in the detail of Titan’s strong fourth-quarter 2021 reports which were published today (3 March 2022), executives affirm that “the impact of the military conflict between Russia and Ukraine has not had a significant impact on global operations”.

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Related news:

  1. Titan receives additional settlement put option notice
  2. Voltyre-Prom: Key shareholder announces aim to sell stake in tyre maker
  3. Titan International closes RDIF put option transaction
  4. Sanction-hit tyremaker Belshina patriotic amid war in Ukraine
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Nynas stops doing business with Russia and Belarus

Nynas

Nynas has halted the purchase of feedstock of Russian origin. Sales to customers in Russia and Belarus have also been stopped. According to the petrochemical company which supplies tyre industry, the Russian invasion of Ukraine and “its tragic consequences throughout the region” prompted Nynas to reconsider its supplies from Russia and also sales to the country.

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Related news:

  1. Sanction-hit tyremaker Belshina patriotic amid war in Ukraine
  2. Bitumina becomes Nynas’ largest shareholder
  3. Nynas exits reorganisation
  4. Rosava’s long-established partnership with Belarussian Grodno Azot tested by war
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Sanction-hit tyremaker Belshina patriotic amid war in Ukraine

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Belarussian Ministry for Finance

As the war between Russia and Ukraine entered its fifth day on 28 February, and as talks between the Russian and Ukrainian governments were set to take place, local news reports suggested that troops from nearby Belarus were set to enter combat. The significance for the tyre industry is that, as well as obvious and tragic implications for Ukraine and its domestic tyre business, there is now evidence that the conflict’s ramifications are reaching neighbouring countries. But where does Belarussia’s leading tyre manufacturer, Belshina, fit into this picture?

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Related news:

  1. Nokian Tyres drops 2022 guidance due to Russian invasion
  2. Reports: Belshina discussing Yokohama JV
  3. Yokohama confirms Belshina meeting took place
  4. Belshina produces first 63-inch tyre
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Nokian Tyres drops 2022 guidance due to Russian invasion

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Nokian Tyres

Nokian has dropped its 2022 financial guidance as a result of the invasion of Ukraine by Russia where Nokian runs a tyre manufacturing plant in Vsevolozhsk, near Saint Petersburg.

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  1. Sanction-hit tyremaker Belshina patriotic amid war in Ukraine
  2. Rosneft responds to its inclusion on sanctions list
  3. Hakkapeliitta Truck E Points to New Truck Tyre Range
  4. Cooper acquisition is a game changer – Apollo MD talks to T&A
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Nynas exits reorganisation

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Nynas

Nynas has exited company reorganisation after Swedish courts confirmed the process is now complete following a creditors meeting. The court’s decision is effective 21 December 2020. After this, Nynas will no longer be limited by reorganisation regulations.

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Related news:

  1. Nynas exits US sanctions
  2. Bitumina becomes Nynas’ largest shareholder
  3. Nynas considering India expansion
  4. Nynas enters restructuring process
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Bitumina becomes Nynas’ largest shareholder

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Nynas

Having exited US sanctions in May 2020, Nynas – which supplies oils to the tyre and rubber industries – has continued an eventful year by announcing significant ownership changes that put Bitumina in a commanding position amongst its shareholders.

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Related news:

  1. Nynas exits reorganisation
  2. Nynas exits US sanctions
  3. Nynas considering India expansion
  4. RISE and Environ embark on tyre-derived oil research project
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Nynas exits US sanctions

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Nynas is now free from the US sanctions against VenezuelaNynas

The US Treasury Department’s Office of Foreign Asset Control (OFAC) has confirmed that Nynas is no longer being blocked pursuant to the Venezuela Sanctions Regulations. As a result of a corporate restructuring of the ownership of Nynas AB, sanctions are lifted.

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Related news:

  1. Nynas exits reorganisation
  2. Bitumina becomes Nynas’ largest shareholder
  3. RISE and Environ embark on tyre-derived oil research project
  4. Trelleborg Fined US$11M for Cartel Involvement
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Rosneft responds to its inclusion on sanctions list

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Russia’s Rosneft, indirect 13 per cent shareholder in Italian tyre maker Pirelli, has commented on the decision by the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) to include it on the new sectoral sanctions list. The oil company was one of four energy sector companies added to the list on 16 July 2014; the sanctions were announced in response to unrest in Ukraine but were put in place before the crash of Malaysian Airlines MH17. Under the terms of the sanctions, US citizens can not undertake certain dealings with Rosneft and the other firms, and they will not be able to obtain medium or long-term lending from the US.

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Related news:

  1. Rosneft buys 13 per cent of Pirelli
  2. Russia a growing part of Pirelli’s business?
  3. Pirelli and Rosneft in synthetic rubber cooperation talks
  4. Pirelli and ChemChina agree closing date, triggering mandatory tender offer
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