Japanese Tire Manufacturer Bridgestone To Pull Out Of Russia
Bridgestone has become the latest Japanese manufacturer to pull out of Russia, saying it has started a process to find a local buyer for its Russian operations.
The tire maker halted output at its plant in Ulyanovsk in central Russia in March, following Russia's invasion of Ukraine. Company officials said resumption was uncertain as parts procurement became difficult. The plant had been producing tires for passenger cars since 2016.
The company said it plans to transfer about 1,000 employees to the buyer, including workers at the plant and its marketing office staff in Moscow.
Bridgestone said its Russian business represents less than 2 percent of its global sales, and that its latest decision will not change its forecast.