MOSCOW (June 20, 2003) — Goodyear is evaluating a number of options in Russia to expand its business there and throughout the former Soviet Union.
The company met recently with representatives of Amtel Holdings Co., which owns controlling interest in three Russian and one Ukrainian tire plants, to discuss an off-take production arrangement. No decision has been made at this point, a Goodyear spokesman said, but the firm sees great potential in the Russian/Confederation of Independent States markets.
Goodyear already has an off-take agreement with JSC Jaroslavl Tire for the production of Medeo winter tires for Russia, and it has expanded its Moscow sales office steadily the past few years, a spokesman said.
Amtel claims to control more than a third of Russia's tire production via ownership stakes in tire plants in Kirov, Krasnoyarsk and Voronezh. It also is linked to the Ukraine tire maker Rosava and owns stakes in synthetic tire cord, chemical and carbon black producers.