The output of Russia’s largest tyre manufacturer Nizhnekamskshina increased 6.6% year on year in January-October to 9.414 million tyres, an official with the company told the Prime-Tass news agency on Wednesday.
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The plant has a total annual capacity of 13.8 million tyres, including 10.2 million car tyres. Nizhnekamskshina is based in Russia’s constituent republic of Tatarstan and is 75.3% owned by the Tatneft oil company.
In 2004 Nizhnekamskshina expects its total tyre output to reach 10.6 million units, up 6.5% on the year. The output of Nizhnekamskshina in 2003 increased 7.6% year on year to 10.587 million tyres.
Nizhnekamskshina accounts for 30% of Russia’s tyre market and supplies tyres to the AvtoVAZ and Izhmash-Avto carmakers. Major shareholders include the Tatneftekhim managing company with a 21.23% stake, Tatneft-Drilling with a 15.67% stake, Tatinvest with a 14.62% stake and Tatneftekhiminvest holding with a 5.67% stake, Prime-Tass said.
