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Article

31 Oct 2022

Author:
Reuters

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.

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