Vredestein to Take Amtel to North America?
Amtel’s acquisition of Vredestein Banden might result in the Russian brand’s introduction to the North American market, Marc Luyten, Vredestein Banden’s director of marketing and sales, according to a Modern Tire Dealer Report. Mr Luyten’s suggestion follows the news that Amtel will buy Vredestein and is planning initial public offerings on the London and Moscow stock exchanges.
When news of the acquisition originally broke, Vredestein CEO, Rob Oudshoorn, told Tyres & Accessories that the move was a win-win situation saying: “One plus one equals three.” Although the Dutch company already works with a Russia distributor, the company believes that Amtel’s size and influence will help it to reach further. In response Amtel said it was impressed with Vredestein’s partnership with Giugiaro Design, adding that the move would make it easier for the Russian company to penetrate the European and American markets. According to Mr Luyten, Amtel occupies 37 per cent of the Russian tyre market.
Vredestein’s director of marketing also reported that 2004 was a record year for the company. Meanwhile, Vredestein Tires North America has changed its name and will now be known as Vredestein Tyres North America Inc.