BUSINESS WIRE: Bridgestone Completes Sale of Russian Assets to S8 Capital
MITTEILUNG UEBERMITTELT VON BUSINESS WIRE. FUER DEN INHALT IST ALLEIN DAS BERICHTENDE UNTERNEHMEN VERANTWORTLICH.
BRUSSELS --(BUSINESS WIRE)-- 20.12.2023 --
Bridgestone Europe NV/SA announced the sale of its Russian assets to S8 Capital, a Russian diversified holding company. The deal has received all necessary regulatory approvals. The agreement includes a tyre manufacturing plant in Ulyanovsk and a sales and marketing office in Moscow.
Bridgestone has been present in Russia since 1998. The company suspended all manufacturing activities in Russia in March last year.
As part of the deal, about 1000 employees will transfer to the buyer. Since the company’s first announcement in March 2022, Bridgestone has continued to support its Russian employees by paying their salaries and employee benefits in full. This is in line with the values promoted by the Bridgestone E8 Commitment and in recognition of its employees’ contribution over the years.
The impact of the transfer of its assets to S8 Capital on its consolidated projections for 2023 is to be minor.
About Bridgestone in Europe, Middle East, India and Africa
Bridgestone in Europe, Middle East, India, and Africa (Bridgestone EMIA) is the regional Strategic Business Unit of Bridgestone Corporation, a global leader in tyres and sustainable mobility solutions.
Headquartered in Zaventem (Belgium), Bridgestone EMIA employs more than 20,000 people and conducts business in 40 countries across the region.
Bridgestone offers a diverse portfolio of premium tyres, tyre technologies and advanced mobility solutions. The company’s vision is to provide social and customer value as a sustainable solutions company. The Bridgestone E8 Commitment is a broad, global corporate commitment that clearly defines the value the company is promising to deliver to society, our customers and future generations in eight focus areas; Energy, Ecology, Efficiency, Extension, Economy, Emotion, Ease and Empowerment. These provide a compass to guide strategic priorities, decision making and actions throughout every area of the business.
For more information about Bridgestone in EMIA, please visit www.bridgestone-emia.com and press.bridgestone-emia.com. Follow us on Facebook, Instagram, YouTube, Twitter and LinkedIn.
Liesbeth Denys, Director Public Affairs and Communications EMIA:
+32 478 78 26 22