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Amtel-Vredestein Buys Another 63 Retail Stores in Russia

(Akron/Tire Review) Amtel-Vredestein N.V., through its OJSC AV-TO subsidiary, has acquired 63 multi-brand tire retail stores across Russia, including the the Horoshie Kolesa and Nordshina chains in St. Petersburg.

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The purchase gives Amtel-Vredestein 104 retail stores, all acquired within the past six months.
 
“We have realized a significant market share in Moscow, St. Petersburg and in several vital cites as a result of these acquisitions,” said Amtel-Vredestein’s CEO Alexei Gurin. “We are proceeding according to the expansion strategy we announced to investors last year and have delivered on our promise to build a national retail network in early 2006.”
 
Amtel-Vredestein said it plans to grow its AV-TO network to more than 200 multi-brand outlets across Russia and CIS by the end of 2007.

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