Severgroup, owned by businessman Alexey Mordashov, announced that it acquired Cordiant, one of Russia’s largest tire manufacturers. about this reports TASS.
“Thus, Severgroup became the owner of one of the three largest tire manufacturers in the Russian Federation with factories throughout the country and acquired the rights to the diversified brand portfolio of the Cordiant Group of Companies,” the agency said, quoting Severgroup’s statement.
Among the brands purchased are Cordiant, Tunga, Torrero, Gislaved passenger tires, as well as Cordiant Professional and Tyrex truck tires. Additionally, Meteor Auto, Meteor Thermo and Meteor Tech brands came under the control of Severgroup.
The company did not disclose the amount of the transaction. It was noted that Severgroup purchased the assets on October 1, 2024 and received permission from anti-monopoly authorities. 8 thousand people are employed in the enterprises of the Cordiant group.
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