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31 Oct 2022


Russia: Japan's tyremaker Bridgestone to exit Russia

"Japanese tyremaker Bridgestone to exit Russia, seeks local buyer" 31 October 2022

Japan's Bridgestone Corp (5108.T), one of the world's top tyremakers, said on Monday it had started to look for a local buyer for its Russian operations, citing uncertainty over the outlook and ongoing supply issues.

Bridgestone had decided in March to suspend all manufacturing activities and freeze new investments in Russia following the country's invasion of Ukraine.

The Tokyo-based company has more than 1,000 workers in Russia, mainly at its tyre factory in Ulyanovsk and sales office in Moscow. Russia represents less than 2% of its revenues, it said in a statement.


Part of the following timelines

Ukraine: Global outrage over Russian invasion leads to sanctions, demands for businesses to divest

Russia: Auto & aviation industries take stock following invasion of Ukraine