Titan to invest in Russia

titanOFF-road tyre specialist Titan International Inc., is currently on talks with Russian tyre maker JSC Cordiant on a potential investment in Russia.

In a recent statement, Titan has confirmed interest on said investment plans, saying that mining and farming growth will be in Russia and the neighbouring Confederation of Independent States.

Together with private equity firm One Equity Partners (OEP), and Government-funded Russian Direct Investment Fund (RDIF), Titan negotiates with Cordiant (formerly OAO Sibur Russian Tyres), a Moscow-based manufacturer firm that has an ownership stake in five Russian tyre plants, including JSC Voltair Prom, which makes agricultural and implement tyres in Ekaterinburg.

With the investment, Titan plans to grow its tyre, wheel and track footprint in Russia and the CIS, where many of Titan’s customers, like John Deere, CNH, Agco, Caterpillar, etc. are increasing their presence.

“Titan will be there to service them as well as their end users of equipment with locally produced quality top quality tires,” the company said.

Cordiant claims to have more than half of the Russian production capacity for farm tyres and about two-thirds of the industrial tyre capacity.