RUSSIAN TYRES
May 1st, 2002
Keith NuthallThe European Bank for Reconstruction and Development (EBRD) is to invest US$20 million in a Russian tyre manufacturing plant being built by France's Michelin group; it is, says the bank, the first western tyre manufacturer to establish a Russia-based production line for the local market. Under the deal, the EBRD will gain a 49 per cent stake in the plant being built at Davydovo, 100 km east of Moscow, with Michelin owning the remaining shares. When it reaches full capacity in 2005, the plant's potential output will be 2.1 million tyres per annum. ...
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