Bridgestone Corporation of Japan signed an investment agreement with the Government of the Ulyanovsk region to build a plant for the production of tires for passenger cars. The production will be targeted "in the production of winter tires" for the Russian market and the CIS. The plant should be launched in the second half of 2016. By the second half of 2018 its total capacity to 12 million tires per day. Total investment in the project will amount to 12.5 billion rubles.
Co-investor in the project will be Mitsubishi, which plans to establish a joint venture Bridgestone Bridgestone Tire Manufacturing CIS LLC. Bridgestone will own 90% of the company, the rest will get the Mitsubishi. In addition, in cooperation Mitsubishi will receive 20% of the capital supply company Bridgestone Company "Bridgestone CIS", which was established in 1998. The report Bridgestone confirmed that the capital of the Company will be 600,500,000 rubles.
Russia has already started or plan to start production of its most world's largest tire manufacturers. In the Finnish Nokian Tyres have a factory in Vsevolozhsk, Japanese Yokohama last year started production in Lipetsk. Italian Pirelli has created a joint venture with the State Corporation "Rostekhnadzor", which has acquired the assets bus "Sibur — Russian Tires" (Voronezh and Kirov tire plants). German Continental is building a plant in Kaluga. At Bridgestone has offices in 40 countries, the corporation brings together 178 works.
More recently, the company has stated that it is not open paneer production in Russia. In February in Moscow, an event dedicated to the presentation and test a new line of winter tires Blizzak, CEO of Bridgestone CIS Yoshiaki Hiraishi made it clear that the company has no plans for a tire production in Russia. When the journalist asked, "Are you going to buy Japanese bus with the words" Made in Russia "the head of the Bridgestone CIS said:" For us it is important to preserve the image of the Japanese quality that we have today, producing your products in Japan. "