Bridgestone will keep the salaries of Russian employees until the transfer of business to a new owner

Bridgestone office in Russia
©Mark_KA / Shutterstock/Fotodom

Japanese tire manufacturer Bridgestone has begun selling its business in Russia. Until the transfer of the business to a new owner, employees will continue to be paid salaries.

This was announced on Monday, October 31, by the governor of the Ulyanovsk region, Alexei Russkikh. Earlier, the company, which had a tire factory in Ulyanovsk, announced that it was looking for a local investor for assets in Russia.

How indicated Russians in his Telegram channel, the priority is to preserve jobs for local residents – employees of the enterprise. The staff of the Ulyanovsk plant is about 1000 people.

The Governor noted that Bridgestone will retain staff to keep the facility running. The deal to sell the business will take several months. “During this period, the company will continue to pay 100% of wages to its employees,” he said. Also, all existing programs of benefits and compensations will be preserved for them.

Bridgestone is a Japanese company that is one of the world’s largest manufacturers of tires for cars, motorcycles, aircraft, construction, mining and agricultural equipment. It has been present on the Russian market since the late 1990s. In January 2016, it became known about the construction of the first plant in Russia and the CIS in the Ulyanovsk region. In addition, Bridgestone supplies specialized tires for auto and motorcycle racing.

O suspension of tire production at the Ulyanovsk plant in Bridgestone announced in March. The company also froze new investments in Russia. Earlier, Bridgestone stopped the export of tires to the Russian Federation.

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