BIRMINGHAM, England (May 9, 2001)-– Goodyear is talking with Russia's Yaroslavl Tyre about a tire manufacturing off-take agreement, according to a representatives of both companies.
"The process is in progress" said a spokesman for Yaroslavl Tyre, speaking at the InterTyre event in Birmingham. "We are waiting for molds from them and to finalize the details of the documentation," he said.
While these discussions are at an advanced phase, the spokesman cautioned that the deal "is in progress, but it is not a reality yet." However, he added that an agreement was expected to be final by the third quarter.
Yaroslavl Tyre, located in Yaroslavl northeast of Moscow, is considered Russia's second-largest tire maker, with a reported annual capacity of 4.9 million passesnger, truck and farm tires.
Goodyear declined to comment specifically on negotiations, but earlier this year it said it had secured an off-take source of tires for Russia.