Ever since the ongoing conflict between Russia and Ukraine began, a number of global tire manufacturers have been reviewing their business in the country. In fact, a number of them have already made critical decisions that will affect their business interest in the region. Bridgestone is one of them.
Bridgestone Group announced today that it has decided to halt production and export of tires from its local plant located in Russia until further notice starting from March 14, 2014.
Press statement
“In light of the invasion of Ukraine, the tire and significant said it has been closely monitoring the situation and prioritizing ensuring the safety and peace of mind of its employees, families, and related people.
Bridgestone has been carefully assessing the impact of the war in Ukraine and its impact on many innocent people. As a result, we are suspending our manufacturing activities in Russia until further notice.
The decision will take effect Friday, March 18, after the necessary preparations. The company has also decided to freeze any new investments and suspend all exports to Russia immediately.
We condemn violence and hope that peace can quickly be re-established. Our primary concern in this crisis is the safety of our employees and their families.
We care for our more than 1,000 employees in our passenger tire production plant in Ulyanovsk, Russia and our sales offices. Therefore, we will support our employees financially at this time.
Donation
Bridgestone’s global and regional management will continue to monitor the situation closely. We expect our manufacturing and supply chains outside of Russia to remain stable in the coming weeks. And we will be prepared to adapt plans if necessary flexibly.
Bridgestone has donated more than €3.5 million ($3.8 million) globally to the Ukraine humanitarian crisis, including a USD 250,000 donation made by Bridgestone Americas to the International Committee of the Red Cross.
In addition, many of our employees have participated in spontaneous volunteer activities to support the refugees from Ukraine”.
via Bridgestone and Bridgestone 1
