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Tyre Maker Bridgestone Suspends Operations In Russia, Donates €2.5 million To Ukraine
Tyre Maker Bridgestone suspends operations in Russia, donates €2.5 million to Ukraine.
The group says it will also freeze any new capital investment at its facility in Russia.
Companies that have paused operations in Russia on the automotive front includes Aston Martin, Bentley, Daimler and Ferrari.
Others are Ford, Harley-Davidson, Honda, Hyundai, Iveco, Magna, Mazda, Nissan, Renault, Rolls-Royce and VW.
Bridgestone Corporation, the world’s largest tyre and rubber company, is suspending the production of tyres in Russia and halting exports to the country in response to the ongoing conflict in Ukraine.
In a statement on 14 March, the group said it was ceasing production at the passenger car tire plant in Ulyanovsk, Russia, by 18 March.
The group will also freeze any new capital investment at the facility while halting exports of tires to Russia immediately.
Bridgestone said it was “concerned about the current situation in Ukraine” and that it hoped that peace would be restored in the country ‘as soon as possible.’
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The Japanese group said it had donated €2.5 million to the United Nations High Commissioner for Refugees (UNHCR) for humanitarian assistance to Ukraine.
Located in the Zavolzhye industrial park and spanning 80.6 hectares, the Ulyanovsk facility was officially launched in December 2016.
As of December 2021, the plant had rolled out 5 million tires and employed over 1000 people.
According to Bridgestone, the plant is “one of the most advanced among all Bridgestone enterprises in the world.”
The product portfolio includes tires with standard sizes ranging from 13 to 19 inches – for cars, crossovers, and SUVs, as well as tires homologated for supply to automakers as original equipment.
Bridgestone said the Russian operation contributes 2% of the group’s total annual revenue.
At the last count, over 300 international companies have withdrawn from Russia or suspended operations there over the past few weeks.
Companies that have paused operations in Russia on the automotive front includes Aston Martin, Bentley, Daimler, Ferrari, Ford, GM, Harley-Davidson, Honda, Hyundai, Iveco, Magna, Mazda, Nissan, Renault, Rolls-Royce, Uber. and Volkswagen.
