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Big growth plans for Russia's Amtel.(Special Report)

By White, Liz
Publication: Tire Business
Date: Monday, August 30 2004

Byline: Liz White

Russian tire maker Amtel Group has ambitious plans for expanding its business, including a new tire plant in Russia and potentially buying into tire makers in Iran and/or Indonesia.

Amtel-which has controlling interest in former state-owned tire factories in Kirov, Krasnoyarsk and Voronezh, Russia, and Belaya Tserkov, Ukraine-has budgeted $50 million in investments this year, but that could double in the coming months if the group proceeds with tentative plans for a new tire plant, according to Sudhir Gupta, Amtel president and majority own

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