AMSTERDAM, Netherlands (Dec. 13)—Amtel-Vredestein N.V. is selling its L.L.C. Amtel-Carbon subsidiary, a Volgograd, Russia-based producer of carbon black, to an unidentified buyer as part of corporate restructuring.
Amtel-Vredestein said the sale price is $21 million but did not disclose the buyer's name due to confidentiality provisions included in the sales agreement.
The sale reflects Amtel-Vredestein's strategy of focusing on producing and marketing high-margin segment tires, the Moscow-headquartered group said.
"Our corporate strategy seeks to expand our position in the premium and value-for-money segments of the passenger tire market and to develop our retail distribution channels," said Alexey Gurin, Amtel-Vredestein general director. It allows the group "to dedicate more resources to our core business model," he said.