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You are here: Home1 / Russia

Russia

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Going, going, gone: Nokian Tyres has left Russia

Company News, International News

In a stock exchange release published this morning, Nokian Tyres plc confirms it has completed the sale of its operations in Russia to vertically integrated oil and gas company PJSC Tatneft after finishing local registration formalities. The Finnish company has “now ended all its operations in Russia,” but this doesn’t mean that the Nokian name will immediately disappear from this market.

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Related news:

  1. Nokian Tyres Russia applies for new brand patents
  2. Tatneft paying just 286 million euros for Nokian Tyres Russian assets
  3. Nokian sells its Russian tyre operation to Tatneft for 400 million euros
  4. Tatneft applies for FAS approval to buy Nokian Tyres’s Russia business
30th March 2023/0 Comments/by Stephen

Tatneft will sell some Nokian Tyres in certain markets

Company News, International News
NokianTyres.ru

Visit NokianTyres.ru today and you will be greeted with the following message: “All Nokian Tyres operations in Russia have ended. For guarantee services and other product information please visit www.vsevtyres.ru.” Browse over to vsevtyres.ru and you will find a page that looks identical to the former Nokian Tyres site. This development follows the sale of Nokian Tyres’s Russian operations to Tatneft and the rebranding of Nokian Tyres’s Vianor tyre retail business as Ivanor in Russia. So who is selling Nokian brand tyres in Russia and Russia-speaking markets? Is it Nokian Tyres or Tatneft?

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Related news:

  1. No Russia clarity for Nokian Tyres
  2. Tatneft paying just 286 million euros for Nokian Tyres Russian assets
  3. Sold: Tatneft pays 285 million euros for Nokian Tyres’ Russian operations
  4. Nokian Tyres: “substantial uncertainties” relating to timing of Tatneft deal closure
29th March 2023/0 Comments/by Chris

S8 Capital might acquire Continental’s Russian assets

Company News, International News

Drawing upon information from two anonymous sources, Russian newspaper Kommersant has named Moscow-based holding company S8 Capital as a potential purchaser of Continental’s assets in Russia, including its tyre plant in Kaluga. Kommersant shares that S8 Capital, owned by entrepreneur Armen Sargsyan, has already acquired a lift manufacturing facility in St. Petersburg from Otis Worldwide Corporation.

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Related news:

  1. Tyre makers & the Russia dilemma
  2. How will war in Ukraine impact European tyre production?
  3. Continental: Russian tyre raw material supply will ‘gradually deteriorate’
  4. Pirelli Q1 EBIT up 35%, but full-year estimates revised down
27th March 2023/0 Comments/by Stephen

Russia: Premium tyre makers bear brunt of 15% market decline

International News

A total of 35.1 million tyres for all powered applications were sold in Russia in 2022, reports daily newspaper Kommersant. This figure represents a year-on-year decrease of 14.9% that disproportionately weighed upon the premium tyre segment. Tyre makers based within the country produced 42.7 million tyres within the year.

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Related news:

  1. Nokian Tyres drops 2022 guidance due to Russian invasion
  2. Sanction-hit tyremaker Belshina patriotic amid war in Ukraine
  3. Nokian Tyres staying in Russia
  4. EU sanctions: “significant impact” on Nokian Tyres’ European sales
24th March 2023/0 Comments/by Stephen

Ivanor: New Identity for Vianor network in Russia

Company News, International News

With the careful rearrangement of a couple of letters, the Vianor tyre retail network gains a new identity in Russia. Nokian Tyres reports that Russia’s largest network of tyre centres will henceforth operate under the name Ivanor. The new name accompanies a change of ownership, with Tatneft acquiring a 100% stake in Nokian’s Russian business. Rights to the Vianor and N-Tyre trademarks remain with Nokian Tyres.

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Related news:

  1. No Russia clarity for Nokian Tyres
  2. Nokian Tyres Russia applies for new brand patents
  3. Tatneft paying just 286 million euros for Nokian Tyres Russian assets
  4. Sold: Tatneft pays 285 million euros for Nokian Tyres’ Russian operations
20th March 2023/0 Comments/by Stephen

Sold: Tatneft pays 285 million euros for Nokian Tyres’ Russian operations

Company News, International News
Nokian Tyres

Nokian Tyres reports that it has received the sale price of 285 million euros from PJSC Tatneft for the sale of its operations in Russia. The total permissible transaction price defined by the Russian Governmental Commission was 23,050 million rubles. Now there are just “registration formalities” before the transaction completes and Nokian Tyres’ operations in Russia therefore end.

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Related news:

  1. Nokian sells its Russian tyre operation to Tatneft for 400 million euros
  2. Nokian Tyres: “substantial uncertainties” relating to timing of Tatneft deal closure
  3. No Russia clarity for Nokian Tyres
  4. Tatneft paying just 286 million euros for Nokian Tyres Russian assets
16th March 2023/by Chris

Tatneft paying just 286 million euros for Nokian Tyres Russian assets

Company News, International News
Tatneft

PJSC Tatneft reports that the Russian Governmental Commission on Monitoring Foreign Investments has approved Tatneft’s purchase of Nokian Tyres plc’s operations in Russia, a deal that was announced on 28 October 2022. That much was expected, some would say overdue. However, Nokian Tyres reports that Tatneft will only be paying around 286 million euros for company’s high-tech St. Petersburg factory and other local assets.

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Related news:

  1. Nokian sells its Russian tyre operation to Tatneft for 400 million euros
  2. Nokian Tyres: “substantial uncertainties” relating to timing of Tatneft deal closure
  3. Nokian Tyres exits Chinese market
  4. Nokian Tyres Russia applies for new brand patents
14th March 2023/by Chris

Nortec tyre fires compound Russian military tyre supply bottleneck

International News, Product News
Screenshot; Lucky Flower; YouTube

As the war in Ukraine drags on into its second year, ongoing vehicle usage as well as the kind of tyre failure episodes that have been reported for the last 12 months mean Russian military tyre supply is as stretched as ever. Indeed, some social media videos show Russian military equipment in active service with less than a complete set of tyres.

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Related news:

  1. Are tyre issues hampering Russian military progress in Ukraine?
  2. Russian Army military tyre problems continue
  3. Ukraine war’s impact on global tyre-makers acute for Nokian, manageable for others
  4. EU-27 plus UK tyre imports rise 11% as winners and losers emerge from turbulent market
13th March 2023/by Chris

Russian Army military tyre problems continue

International News

Roughly a year after Russia invaded Ukraine, tyre problems remain a significant hindrance for the Russian army. 12 months ago we reported on how tyre selection and product quality had resulted in military machinery literally getting stuck in the mud and Russian military tyres failing on certain occasions. Now, further evidence suggests that long-term tyre maintenance as well as tyre supply problems are causing additional bottlenecks.

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Related news:

  1. Are tyre issues hampering Russian military progress in Ukraine?
  2. Nortec tyre fires compound Russian military tyre supply bottleneck
  3. Nokian moves selected tyre production out of Russia
  4. War as a sales opportunity: Titan subsidiary increasing volumes in Russia
13th March 2023/by Chris

Nokian Tyres Russia applies for new brand patents

Company News, International News

Toward the end of December 2022, we reported that Tatneft had applied for FAS approval to buy the Nokian Tyres St. Petersburg factory. That deal, which is yet to be completed, centred on “the acquisition of 100 per cent of “Nokian Tyres LLC, Hakka Invest LLC and Nokian Shina LLC from Nokian Tyres” for just over 400 million euros.  Around the same time, the Russian national patenting body, Rospatent, reported that Nokian Tyres LLC, which operates Nokian’s Russian tyre for the Finnish tyremaker, had filed applications for the registration of new trademarks.

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Related news:

  1. Tatneft paying just 286 million euros for Nokian Tyres Russian assets
  2. Nokian sells its Russian tyre operation to Tatneft for 400 million euros
  3. Tatneft applies for FAS approval to buy Nokian Tyres’s Russia business
  4. No Russia clarity for Nokian Tyres
10th March 2023/by Chris

Michelin to sell Russian factory to local tyre wholesaler

Company News, International News

Despite initially planning to sell its Davydovo, Russia tyre production plant to the factory’s local management, Michelin is now in talks with Moscow-based Power International Shiny LLC. Michelin reportedly hopes to reach an agreement with the new buyers “soon”.

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Related news:

  1. Michelin halts Russian tyre manufacturing and exports to Russia
  2. Pirelli stops new investment in Russia, puts brakes on tyre manufacturing in Russia
  3. Impossible to resume production – Michelin transferring Russian operations
  4. Tyre makers & the Russia dilemma
10th March 2023/by Chris

Continental “at an advanced stage of the sale” of Russia tyre factory

Company News, International News

In June 2022, Nokian Tyres was the first tyre manufacturer to use the terms “controlled exit” to describe its withdrawal from operations in Russia. Now, Continental has joined them, with Conti CEO Nikolai Setzer using very similar language as part of the German tyre and automotive supplier’s full-year 2022 financial results presentation.

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Related news:

  1. How will war in Ukraine impact European tyre production?
  2. Nokian moves selected tyre production out of Russia
  3. Ukraine war’s impact on global tyre-makers acute for Nokian, manageable for others
  4. Nokian sells its Russian tyre operation to Tatneft for 400 million euros
9th March 2023/by Chris

Titan International: Strong 2022 results, India concerns

Company News, International News

Titan International, Inc. has reported record turnover and profitability during the 2022 financial year. While the US-based manufacturer of OTR tyres and wheels increased its net sales by 21.9% to US$2.2 billion, income from operations jumped by more than 141% to $205.8, almost doubling the return on sales to 9.5%.

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Related news:

  1. Titan: Russia-Ukraine war hasn’t impacted global operations
  2. Titan receives additional settlement put option notice
  3. Mahansaria Tyres (MTPL) to buy Tyres International
  4. Mixed feelings about Russia? – Titan International sends letter to Biden
28th February 2023/by Stephen

Mixed feelings about Russia? – Titan International sends letter to Biden

Company News, International News

In its most recent quarterly report, US-based off-highway tyre manufacturer Titan International, Inc. reports owning 64.3% of Russian tyre maker Voltyre-Prom, with the Russian Direct Investment Fund the remaining shareholder. Yet this connection with Russia hasn’t stopped Titan raising its voice against indirect imports of Russian petroleum products into the USA. Together with the United Steelworkers union, Titan has even sent a letter to Joe Biden.

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Related news:

  1. Voltyre-Prom: Key shareholder announces aim to sell stake in tyre maker
  2. Titan receives additional settlement put option notice
  3. War as a sales opportunity: Titan subsidiary increasing volumes in Russia
  4. Titan International: No further investments in Russian operation
27th February 2023/by Stephen

Michelin’s Russia exit taking longer than planned

Company News, International News

Three months after pausing operations in Russia, Michelin issued a press release on 28 June 2022 acknowledging the technical impossibility of resuming operations there. At the time it spoke of transferring control of its operations to local management, and Michelin tells us that the intention was to dispose of its operations in Russia by the end of last year.

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Related news:

  1. Tyre makers & the Russia dilemma
  2. Impossible to resume production – Michelin transferring Russian operations
  3. Farewell Russia? The exit of global players offers long-term growth to domestic firms
  4. Nokian Tyres exits Chinese market
14th February 2023/by Stephen
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