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Sibur-Russian Tires: Lone Fighter in Essen

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Market observers agree that the Russian and Eastern European markets are not only interesting for Western manufacturers, but vice versa as well. However, this belief wasn’t reflected in the number of Russian exhibitors that were present at this year’s Reifen show. Polite visitors counted 1.5 Russian exhibitors in Essen. Those who see Vredestein as a Russian company now managed to count two. For Russian manufacturer Sibur-Russian Tires (SRT) the Reifen exhibition definitely was a required course, according to Igor Karavaev, strategy and business development director. Right now the Russian company is looking for a potential joint venture partner abroad and also wants to increase its exports to the European markets. Consequently, SRT’s stand mainly featured the latest flagship product – the new Cordiant brand.

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Sibur to Strengthen the Strategic Direction of its Tyre Holding

Sibur-Russian Tires’ (SRT) current restructuring programme brings with it a lot challenges. Hundreds of millions have already been invested, meaning some of the company’s figures are in the red. Talking to Tyres & Accessories, SRT’s new director for strategy and business development explains what the Russian market leader is aiming for and where the company is looking for assistance. There is even the possibility that the company could be the subject of a merger talks.

According to Igor Karavajev, director for strategy and business development at Sibur-Russian Tires, increasing the tyre manufacturer’s competitiveness is of utmost importance at the moment. Although SRT still supplies 39.6 per cent (SRT figures) of the Russian tyre market with its products, competitors Nizhnekamskshina (30 per cent) and Amtel-Vredestein (22.6 per cent) are not far behind.

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Amtel-Vredestein Doubles Profit in 2005

(Akron/Tire Review) After its first year of operation, Russian tyremaker Amtel-Vredestein NV ended up in the black, posting net income of $5 million in 2005 against sales of $671 million. Net sales jumped 40 per cent for the year versus 2004’s results, the company said.

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The Bearish Bear

Some Russian stocks are either under-performing or were overvalued at their initial public offerings. There have been some notable successes in the market recently like Novatek a Russian gas company which raised $966 million at its IPO and has seen its share price rise 150 per cent since then. Unfortunately for the tyre business, Amtel-Vredestein has not faired so well.

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Sibur to Strengthen the Strategic Direction of its Tyre Holding

Sibur-Russian Tires’ (SRT) current restructuring programme brings with it a lot challenges. Hundreds of millions have already been invested, meaning some of the company’s figures are in the red. Talking to Tyres & Accessories, SRT’s new director for strategy and business development explains what the Russian market leader is aiming for and where the company is looking for assistance. There is even the possibility that the company could be the subject of a merger talks.

Read more

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Amtel-Vredestein CEO Calls for Government Backing for Businesses

Speaking at the Russian Economic Forum staged in London, Amtel-Vredestein CEO, Alexei Gurin called for President Putin and the Russian Federation to help boost quality, competitiveness and profitability through backing companies in acquiring businesses, technology and skills. He stressed that Russia should use oil windfall revenues to support companies who acquire western businesses and technology.

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Production Underway at Krasnoyarsk Tire Plant

Production at the former Amtel-Vredestein Krasnoyarsk Tire Plant was re-launched on 19 April, with local government officials optimistic they can overcome the facility’s past problems.

Lev Kuznetsov, the first deputy-governor of Krasnoyarsk territory, has now signed a social and economic cooperation between the Administration Council of Krasnoyarsk Territory and LLC Vostokshinainvest, the owner of Krasnoyarsk Tire Plant.

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Amtel-Vredestein Begins Work on ‘State-of-the-Art’ Russian Plant

(Akron/Tire Review) Amtel-Vredestein NV says it will invest another $124 million to expand its Voronezh, Russia, tyre plant. The Voronezh II project, previously announced, will see a state-of-the-art tyre plant built on the grounds of Amtel-Vredestein’s existing Voronezh facility. The new plant will produce some 2.5 million Amtel and Vredestein branded tires annually, and could be expanded to 4.1 million tyres.

According to this agreement Amtel-Vredestein will invest $124 million into its new Voronezh-II production facilities. Within this project, state-of-the-art facilities will be built which will produce 2.5 million tyres annually, with a possibility for further expansion to 4.1 million tires per year. Production is set to start in September 2008.

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Vredestein Hi-Trac Test Successes

Vredestein Hi-Trac tyres bested those of its international competitors – including those manufactured by Goodyear, Continental, Pirelli and Bridgestone in independent tests which compared braking distances, overall speed & handling and resistance to aquaplaning on wet roads. The tyre took first place on average in 10 tests.

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Amtel-Vredestein – Top Tyre Retailer in Russia

Amtel-Vredestein N.V. has today announced that its new OJSC AV-TO tyre retail subsidiary has acquired 63 additional multi-brand tyre sales and service centres. These are in major cities across Russia – and include the Horoshie Kolesa (“Good Wheels”) and Nordshina chains in St. Petersburg.

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Amtel-Vredestein Selects Oracle for Corporate IT System

Amtel-Vredestein NV has announced that it has selected Oracle E-Business Suite for its corporate information system at a press conference held in Moscow at Oracle’s APPS FORUM 2006. Based on Oracle’s E-Business Suite platform, the new system will help to enable centralized and effective financial and logistics management, strict cost allocation and price control at all stages of production.

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Amtel Plans 100 million Euro Fundraising

Amtel-Vredestein is to issue a four-year credit-linked note for 100 million euros ($119.8 million) within the next two months, the company chief executive recently told the Reuters news agency. “There are some technical issues to tackle. Once we have resolved them with banks, we believe we will launch these CLNs within one-and-a-half to two months,” Alexei Gurin told reporters.

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New Offices for Vredestein US

(Akron/Tire Review) Vredestein Tyre North America has moved to larger offices in New Jersey. The company said the previous office space “became too small,” and the larger quarters will give it ample to grow. Vredestein’s new US address is: 13 Bridge St., Metuchen, NJ 08840. Phone and fax numbers remain the same.

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Vredestein to Launch New Tyre and Logo

(Akron/Tire Review) Vredestein Tyres North America plans to introduce the new Ultrac Sessanta later this year, which the company says is its “newest trump card in the UHP segment.”

Giugiaro Design has also created a restyled logo for Vredestein. “The design of the new logo is more streamlined and the lettering is more powerful,” the company said. “The new logo is more in line with Vredestein’s image and Vredestein’s quality products in the top sports segment.”

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