Bridgestone has temporarily closed its tyre production plant in Russia, as a result of the war in Ukraine.
The company said in a statement: “Over the last weeks, we have been deeply affected by the war in Ukraine and its impact on many innocent people including our own employees and partners. We condemn any form of violence and hope that peace can quickly be re-established. Our primary concern in this crisis, is the safety of our employees and their families.”
Bridgestone’s Ulyanovsk plant employs 1,000 people across its manufacturing and sales operation. Tyre production will be stopped on March 18, until further notice. The company said it will continue to support its employees financially.
As the situation further unfolds, Bridgestone’s global and regional management will continue to closely monitor the situation and flexibly adapt plans when needed. It expects manufacturing output outside Russia to remain stable in the coming weeks.
Russia hit back at western sanctions for invading Ukraine by imposing export bans on a series of products until the end of 2022.
As well as vehicles, the ban covers the exports of telecoms, medical, agricultural, and electrical equipment, as well as some forestry products such as timber.
Fuel prices have also been affected, with analysts warning of more price hikes ahead, with £3 per litre of diesel a possibility.