After suspending production in Russia in March due to the war in Ukraine, Bridgestone Corp. says it is looking for a buyer for its plant and operations in Russia.
The tiremaker has had a presence in Russia since 1998, and has more than 1,000 employees in the country, most of them in its tire manufacturing plant in Ulyanovsk, as well as a sales and marketing office in Moscow.
Since its announcement to shut down operations in March, the company says it has continue to pay and provide benefits for those Russian employees, and will continue to do so.
Bridgestone says it expects the search to find and secure a buyer for the business to take several months.
The company’s business in Russia accounts for less than 2% of its overall operations. The decision to sell will not affect the company’s most recent financial forecast, which was issued in August, and called for sales of 3.95 trillion yen.
