Russia
Brexit is perhaps just over a month away, and while many companies face an uncertain future, Nokian Tyres is in the happy position of being relatively unconcerned about the UK rescinding its European Union membership. That’s just as well, as the Finnish tyre maker has other things to worry about.
Hankook and the Russian Kontinental Hockey League (KHL) have officially extended their partnership until 2022. As a result, Hankook remains “KHL Championship Supplier” and “Official tyre partner” in one of the largest ice hockey leagues in the world. The KHL is one of the top sports events in Belarus, China, Finland, Kazakhstan, Lithuania, and Russia where the games are held.
Nissan’s Russian manufacturing operation has acknowledged tyre maker Yokohama a Nissan Best Supplier Award. Igor Boitsov, general director of Nissan Manufacturing Rus LLC, presented the award to LLC Yokohama R.P.Z. at a ceremony in St. Petersburg.
At its annual general meeting this month, Russian tyre maker PJSC Nizhnekamskshina reported that it produced more than 11 million tyres in 2018. In addition to supplying the aftermarket and domestic OEMs such as Volkswagen Group Rus, Ford Sollers Holding, UAZ and GAZ Automobile Works, Nizhnekamskshina tyres were exported to 38 countries during the year.
Tatneft reports that structural changes have been implemented in its Kama Tyres tyre manufacturing business. The Russian company reports that its OOO Nizhnekamsk Truck Tyres Factory has now joined together with the OOO Nizhnekamsk SSC Tyre Factory. It says the aim of this change is to improve the efficiency of the company’s petrochemical production process management system.
Following a month of orientation, Nokian Tyres has sent the first group of employees hired for its new factory in the USA on a six-week training experience at its facilities in Russia and Finland. The training trip’s aim is to equip members of the Dayton, Tennessee plant launch team with the skills they’ll need when beginning the production process ramp-up ahead of the start of commercial production in 2020.
Nokian Tyres is sending the first group of US employees from its Dayton, Tennessee factory to Europe for training. After a month of orientation, Nokian reports that it is sending the staff group on a six-week training trip to its facilities in Russia and Finland.
On 22 February, Titan International Inc. closed the previously-announced transaction with an affiliate of the Russian Direct Investment Fund (RDIF), one of the three shareholders of Voltyre-Prom. Under the terms of a definitive agreement entered into on 11 February, Titan paid RDIF US$25 million in cash and agreed, subject to the completion of regulatory approval, to issue RDIF 4,032,259 shares of restricted Titan common stock in a private placement. The agreement stipulates that RDIF must hold these shares for a period of three years from the date of the agreement.
TRM Srl. and Carl Zeiss Optotechnik GmbH have signed a co-operation agreement.
As a result of the agreement, TRM will add Zeiss Shearography Systems to its portfolio and will be an authorized dealer for this product line. Furthermore, Zeiss will train the technical staff of TRM on Intact machines. This will allow TRM to offer qualified and authorized after sales service to Shearography customers. For Zeiss this will increase the availability of technical service throughout the markets.
Titan International, Inc. has received an additional settlement put option notice From OEP 11 COÖPERATIEF U.A. (OEP), an affiliate of One Equity Partners, one of the three shareholders of Voltyre-Prom, of its exercise, effective 8 January 2019, of the settlement put option with respect to its holdings in Voltyre-Prom, pursuant to the Voltyre-Prom Shareholders’ Agreement.
Well-known automotive parts manufacturer BorgWarner has confirmed that its head of security has been arrested by Russian security services. Various news sources report that Paul Whelan was arrested on spying charges.
The Russian Direct Investment Fund (RDIF) has informed Titan International of its wish to relinquish its shareholding in agricultural and industrial tyre manufacturer Voltyre-Prom. The Kremlin-backed sovereign wealth fund, which acquired the tyre maker together with Titan and private equity firm One Equity Partner in 2013, shared its intention via its exercise on 14 November of the settlement put option included within the Voltyre-Prom Shareholders’ Agreement.
Pirelli Tyre Russia and Rostec have placed their signatures upon a memorandum covering plans to more than double production capacity at the Voronezh Tire Plant in southwest Russia. This agreement formalises the long-held aim of increasing capacity at the joint venture facility from 2 million to more than 4 million passenger car tyres per annum.
Russia and Saudi Arabia will finalize several joint projects by the end of 2018, Russian Energy Minister Alexander Novak recently told journalists. The projects referred to see Saudi Aramco partner with Russain firms Sibur and Novatek. The Sibur plant plans centre on a particularly significantly sized rubber factory.
Starting in April 2018, Yokohama tyres are being fitted as original equipment to Škoda Kodiaq SUVs produced and sold in Russia. The Yokohama BluEarth-A AE-50 is being supplied in two sizes, 235/55R18 100V and 215/65R17 99V.
