This news was reported by Tatneft general director Shafagat Takhautdinov at the St. Petersburg International Economic Forum.
Under the terms of the agreement signed by Nizhnekamskshina and Continental on June 8, the German company will sell its tyre making technology and provide technical assistance and support.
When news of this deal was first mentioned in February, Tyres & Accessories reported that Nizhnekamskshina would utilise the Continental technology to build a US$180-200 million truck and bus tyre facility. This factory would initially produce 600,000 tyres per annum, with a further expansion to a million units planned. It was further stated in February that Continental is expected to become a customer for Nizhnekamskshina’s new products.
