MOSCOW (Oct. 27, 2008) — Amtel-Vredestein N.V. is weighing the possibility of a sale of parts of the company's assets and/or divisions or the company as a whole.
The company also said production of tires at its Kirov and Voronezh, Russia, factories still is suspended because of a lack of money to buy raw materials. Production at the financially protected Vredestein unit continues as normal.
Amtel-Vredestein said it has received payment demands from Sibur Russian Tyres J.S.C., which has filed its claim with the courts, and several banks want loan repayments. The firm said it is discussing the issues with Sibur and the lenders.