Bridgestone completes sale of Russia assets to S8 Capital

Bridgestone Europe has exited the market in Russia with the sale of its assets there to S8 Capital, a Russian diversified holding company.

The deal has received all necessary regulatory approvals, and includes a tyre manufacturing plant in Ulyanovsk and a sales and marketing office in Moscow.

The responsibility of about 1,000 Bridgestone employees will also transfer to S8 Capital.

Bridgestone has been present in Russia since 1998, but suspended all manufacturing activities in the country in March 2022, following the invasion of Ukraine.

Since then, Bridgestone says it has continued to support its Russian employees by paying their salaries and employee benefits in full.

Earlier this year, S8 Capital also acquired Continental’s passenger tyre manufacturing plant in Kaluga, which employed around 1,100 people at the time.