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Russian Tyre holding buys Dutch Vredestein

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ENSCHEDE, Netherlands (4 November) – Russian Tyre Holding Amtel has reached an agreement with Dutch tyre manufacturer Vredestein for a takeover of a majority of the Vredestein shares. The Russian holding is buying Vredestein for its know-how in high-end tyres and marketing. The deal comes after a 50-50% joint venture between Finnish Nokian and Amtel […]

ENSCHEDE, Netherlands (4 November) – Russian Tyre Holding Amtel has reached an agreement with Dutch tyre manufacturer Vredestein for a takeover of a majority of the Vredestein shares. The Russian holding is buying Vredestein for its know-how in high-end tyres and marketing. The deal comes after a 50-50% joint venture between Finnish Nokian and Amtel has shattered. Amtel has several tyre factories and chemical plants in the Russian federation and the Ukraine. The holding produces tyres for cars, trucks, agricultural machinery, earthmoving equipment, aircraft and bicycles. Its annual aggregate revenue is $ 400 million. Vredestein will remain as a brand name and manufacturing base (it produces car and agricultural tyres in the Netherlands and bicycle tyres in India). Vredestein bicycle tyres constitute 10% of the Vredestein turnover.(OB)

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