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New Supervisory Board Chairman for Amtel-Vredestein

Amtel-Vredestein N.V., Russia’s largest passenger car tyre manufacturer, has announced that Mr. Rafael Nagapetiants (managing director and head of the Corporate Finance Department at Alfa-Bank) has been appointed chairman of the company’s Supervisory Board. Director Hendrik W. ten Bosch has been elected as vice-chairman. Maxim Ignatiev, who served as acting-chairman of Supervisory Board, will continue as a director and member of the Remuneration and Appointment Committee.

31st January 2008/by Tyrepress Editors

Amtel-Vredestein Sales Up but Debt Issues Remain

Figures released by Amtel-Vredestein for the first nine months of 2007 show increased net sales during the period, however a statement released by the company on January 29 also points to the possibility of supply disruptions resulting from difficulties in refinancing short-term debt.

For the nine months ending September 30, 2007 sales rose by 26 per cent to US$691 million, from $548 million for the same period in 2006. From this figure, sales for the company’s Russian operations (excluding the AV-TO unit) increased 18 per cent to $274.3 million, while European sales from Vredestein Banden B.V. grew 20.1 per cent to $275.4 million. Much of Amtel-Vredestein’s overall sales growth has taken place, the company reports, through increased sales at its AT-VO unit due to the acquisition of tyre and automotive parts wholesale businesses Pigma and Megashina, and the increased number of retail stores included in the consolidated results.

30th January 2008/by Tyrepress Editors

Amtel-Vredestein to Supply Fiat Albea

Amtel-Vredestein N.V. has signed an agreement to supply Amtel tyres for Fiat Albea cars produced in Russia. The deal, struck with OJSC Severstal-Avto – the sole distributor for Fiat in Russia, will see the company start OE supply in the first quarter of 2008. Volumes are expected to be up to 10,000 tyres per month. The contract to supply tyres to Severstal-Avto has been in preparation for about two years. The main supplier will be the Amtel-Povolzhye tyre complex in Kirov. Amtel tyres have passed certificate tests at the Balocco testing area, in Italy, and numerous audit tests by Severstal-Avto and Fiat specialists at the company’s plant in Kirov.

21st December 2007/by Tyrepress Editors

Amtel-Vredestein in Moscow Plant Sale Talks

Amtel-Vredestein NV is in discussions with “a number of companies” regarding the possible sale of its Moscow tyre manufacturing unit, “Moscow Tyre Plant-M”, which is located near the centrE of Moscow. In this event, the Company may relocate the tyre production plant to its Voronezh, Russia facility. “These negotiations may or may not lead to any agreement. A further announcement will be made in due course,” the official statement added.

18th December 2007/by Tyrepress Editors

New Vredestein UK MD

Vredestein has appointed Stuart Jackson as managing director of the company’s UK operations following the departure of Bert Stellinga in August. Prior to entering the tyre trade, Jackson occupied a number senior posts in the automotive industry, latterly with Visteon, a leading global supplier of automotive parts and solutions. The appointment became effective on 1 December.

6th December 2007/by Tyrepress Editors

Amtel-Vredestein’s Voronezh Plant in Compliance

Amtel-Vredestein has reported that, contrary to the information given out by Russia’s Interfax news agency that the net assets of OJSC Tyre Complex Amtel-Chernozemye are less than its charter capital, OJSC Amtel-Vredestein confirms that its Voronezh manufacturing facility is in complete compliance with current Russian tax legislation, including the “Law about joint-stock companies”. As of 1 October 2007, and in accordance with reports submitted to the federal tax service department in the Voronezh region, OJSC Tyre Complex Amtel-Chernozemye’s net assets are 366 million roubles (£7.16 million) and its charter capital is 355 million roubles (£6.94 million).

OJSC Amtel-Vredestein is one of the largest investors in the Voronezh region and reports that it has successfully cooperated with its administration for many years. Loss reporting during a long-term investment period is a common Western business-practice. The “Long-term result of our investments are high-quality export-oriented products, based on high-technology, ecologically-friendly Russian facilities. In addition to the obvious advantages to the manufacturer in the form of higher competitiveness and profitability, our investments will also benefit the local economy by creating a higher tax base, additional employment and improvements to the social and economic level of the region,” said Petr Zolotarev, OJSC Amtel-Vredestein general director and Amtel-Vredestein N.V. CEO.

12th November 2007/by Tyrepress Editors

Lombard Drivers Switch to Vredestein from C-Tyres

Drivers in today’s Lombard Rally have been given the option to switch to Vredestein following C-Tyre’s entrance into administration. Yesterday Kenny Owen, clerk of the course at Lombard Rally, said: “We’ve been working tirelessly for two weeks to try to resolve the situation and we’ve managed to get most of the competitors to run on Colways. We’ve found suppliers all over the place…”

However, later statements on the official Lombard Rally website reveal that race officials had to call in a second control tyre: “We have arranged supplies of an alternative control tyre from Vredestein to be available at the start and on route. The Vredestein control tyre may be used in addition to the your existing Colways.”

8th November 2007/by Tyrepress Editors

Amtel-Vredestein Set to Sell Controlling Interest in AV-TO

Russian news sources are reporting that Amtel-Vredestein is selling the controlling stake in its less than profitable retail network. One source named Michelin as a possible buyer. If Michelin does buy the controlling interest, analysts are suggesting the chain may stop selling Amtel’s tyres at its points of sale, which will affect roughly 20 per cent of Amtel sales. Despite this, Amtel looks likely to hold onto shares in the retail chain.

6th November 2007/by Tyrepress Editors

Vredestein to Raise Prices

(Akron/Tire Review) As of December 1, Vredestein Tyres North American said it will raise prices on all of its passenger and light truck/SUV tyres. The increase, said Vredestein, will be 5 per cent.

29th October 2007/by Tyrepress Editors

Amtel-Vredestein to Supply 480,000 Tyres for Renault Logan

Amtel-Vredestein’s Russian subsidiary OJSC Amtel-Vredestein has signed an exclusive contract to supply Amtel tyres for Renault Logan passenger cars produced in Russia. Amtel-Vredestein will be the only Russian tyre producer to supply OJSC Autoframos with original equipment.

The majority of the tyres will be manufactured by Amtel’s Amtel-Povolzhye tyre complex (Kirov). It is projected that the company will supply between 30,000 – 35,000 tyres per month, and will supply a total of 480,000 OE tyres by the end of 2008. According to the company, preparations leading up to the contract took three years.

16th October 2007/by Tyrepress Editors

Sales – and Losses – Increase for Amtel-Vredestein

Amtel-Vredestein has recorded an increase in net losses during the first half, an occurrence attributed to losses at its AV-TO operation and growing debt service expenses. Net loss for the period was US$33.5 million, up from $22 million last year, and to this negative figure the AV-TO unit contributed $17 million.

On a brighter note, the tyremaker reported net sales increasing 26 per cent in the first half, with the company delivering “strong operational results in its core passenger car tyre business.” Net revenue from passenger car tyres grew 24.5 per cent to $258.2 million from $207.5 in the first half of 2006.

A company statement reported Amtel-Vredestein is continuing to project sales of approximately $1 billion for 2007 and plans to be operationally profitable during the second half, subject to any potential asset impairments charges and provisions required by IFRS as a result of acquisitions and disposals made in 2006. However, the company expects to continue showing losses on a consolidated basis due to negative contributions by its AV-TO business and high interest expenses.

3rd October 2007/by Tyrepress Editors

Vintage Tyre Supplies – Supplying Vintage Tyres

The name says it all – just like that well known brand of paint they do “just what it says on the tin” Vintage tyre Supplies distributes one of the largest ranges of original equipment classic and vintage car and motorcycle tyres in the world. Pneumatic tyres have been with us now for almost 120 years and with our insatiable appetite for collecting old things the need for good quality authentic tyres is as strong as ever. Many readers will find it incredible to discover that it’s still possible to get a tyre for a vehicle manufactured when Queen Victoria was on the Throne! Even harder to believe is that it’s a British company that manufacturers them.

When Vintage Tyres was originally set up to fulfil the needs of the motoring enthusiasts, the founders could not have imagined that after almost 50 years the company would become one of the largest specialist distributors in the world. VTS still works closely with Dunlop but now also offers Avon, Michelin, Firestone, Vredestein and more recently their own brand Waymaster, together with a whole host of other smaller specialist brands. VTS have also been active in the re-development of many discontinued tyre sizes, such as the Dunlop Aquajet, the Michelin X and more recently the Avon Traction mileage. Managing Director Chris Marchant is also mindful of the need to also offer more competitively priced products, a gap that is filled with the company’s own Waymaster brand.

2nd October 2007/by Tyrepress Editors

Vredestein Introduces New Run-Flat Sizes In USA

(Akron/Tyre Review) Vredestein North America has introduced the new run-flat versions of its Vredestein Quatrac 3 and Wintrac Xtreme lines.

25th September 2007/by Tyrepress Editors

Oudshoorn Rejoins Amtel-Vredestein Board

Vredestein Banden B.V. CEO Robert H. Oudshoorn is to return to Amtel-Vredestein’s Board after a 6-month absence to join new Amtel-Vredestein CEO and Executive Board Chairman, Petr Zolotarev and CFO Vadim Pesochinsky, who joined the Company in July 2007.

Amtel-Vredestein has increased the size of its Executive Board from a maximum of four to six and has nominated four new members. The election of the nominees will be included among the agenda items at an Extraordinary General Meeting of Shareholders (EGM) scheduled for 2 October 2007 in Enschede, The Netherlands.

Other new members are Vredestein Consulting Managing Director, Kornelis (Kees) Hettema; Amtel-Vredestein Deputy General Director of Sales and Operations, Ilya Ivanov; and Vredestein Banden Director of Corporate Marketing & Sales, Marc Luyten.

18th September 2007/by Tyrepress Editors

Amtel-Vredestein Names Deputy General Director

Amtel-Vredestein N.V., has appointed Nikolay Khalko as OJSC Amtel-Vredestein’s Deputy General Director of Corporate Development and Restructuring. Khalko’s responsibilities will include corporate development of the Group, mergers and acquisitions, the Company’s restructuring and its capital funding.

14th September 2007/by Tyrepress Editors