By Adedapo Adesanya
As businesses continue to exit Russia over its invasion of Ukraine, popular Japanese tyre manufacturer, Bridgestone, has announced that it is halting manufacturing at its lone plant in Russia as well as suspending the shipment of tyres into the country.
The company said its sales and operations in Russia account for less than 2 per cent of its total revenue.
In a statement, the company said, “The Bridgestone Group is deeply saddened and concerned by the situation in Ukraine, and hopes for the restoration of peace and safety as soon as possible. The Group has been closely monitoring the situation by utilizing the group’s global network, placing priority on ensuring the safety and peace of mind of its employees, families and related people.”
The tyremaker will halt tire production by March 18, but says it is stopping tire shipments to Russia from March 14.
Bridgestone disclosed that it has also returned all 10 of its Japanese employees and their families who were stationed in Russia back to Japan, adding that it was also making a donation of €12.5 million to the Office of the United Nations High Commissioner for Refugees.
Additionally, its regional businesses will make donations to the International Red Cross, with the American business unit giving $250,000.
Its plant, which produces passenger tyres, is located in Ulyanovsk, in western Russia but Bridgestone noted that it will continue to care for more than 1,000 employees.
As the situation further unfolds, Bridgestone said its global and regional management will continue to closely monitor the situation and flexibly adapt plans when needed.
The company expects “manufacturing output outside Russia to remain stable in the coming weeks,” stating that, “The last two weeks have transformed the world with more than two and half million people having already fled their homes. Many of our employees have participated in spontaneous volunteer activities to support the refugees from Ukraine.”
