Bridgestone Europe has transferred its Russian operations to S8 Capital, a Russian investment company. The company has already obtained approval from the relevant authorities. The transfer includes the passenger car tire plant in Ulyanovsk and the sales company in Moscow. Bridgestone began full-scale operations in Russia in 1998, but ceased all production activities in Russia in March 2022. As part...
Bridgestone said on Oct. 31 that it has begun considering the transfer of its Russian operations to a local business owner. The decision was made after a careful and comprehensive assessment of the situation with employees, users, and suppliers in mind amid uncertainty about the future, including supply issues in Russia. The company expects that it will take several months...
Yokohama Rubber Co. Ltd. (TYO:5101) announced on March 18 that it will be gradually drawing production to a halt at LLC Yokohama RPZ, a Russian subsidiary that manufactures passenger car tires. The company cited issues with raw materials procurement as being behind its decision here. Commenting further, Yokohama Rubber said that it hopes for the current situation between Russia and...
Bridgestone Corp. (TYO:5108) announced on March 14 that it would be stopping its production of tires in Russia, as well as its tire exports to the country. On the production front, Bridgestone is suspending operations at its Russian plant for passenger car tires – located in Ulyanovsk – and freezing all new capital investment in the country. The company decided...
Japan’s Ministry of Foreign Affairs raised its risk level for Russia – including Moscow – to Level 3 on March 7, constituting a recommendation to stop travel to the country. And against this backdrop, tire manufacturers with local subsidiaries in Russia are now pursuing measures such as pulling locally stationed employees out of the country. Bridgestone is approving special temporary...
There are concerns that Russia’s invasion of Ukraine could impact the business operations of tire-focused rubber companies. There are two Japanese tire manufacturers who have production bases in Russia: Bridgestone Corp. (TYO:5108) and Yokohama Rubber Co. Ltd. (TYO:5101). Both of these bases operate on a local-production-for-local-consumption approach, focusing on domestic Russian demand. More broadly, tires make up the bulk of...
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