Amtel stops Russian plant due to capital shortage

Newswire

MOSCOW, Aug 19 (Reuters) - Russian-Dutch tyre manufacturer Amtel-Vredestein said on Tuesday it had suspended production at its Kirov plant due to the working capital shortage the company has been facing in recent months. Amtel, which has had debt refinancing problems, said in a statement the plant had been stopped as the company expected a second tranche of a stabilisation loan from Sibur Russian Tyres, which agreed to buy a controlling stake in Amtel in June. "Assuming the second ...

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