A consortium of the Russian Direct Investment Fund (RDIF), Titan International and One Equity Partners have completed the acquisition of Russian agricultural and industrial tyre manufacturer OJSC Voltyre-Prom from Cordiant.
Under Cordiant’s management OJSC Voltyre-Prom has developed its production base, updating production processes through the introduction of new technology and establishing quality control procedures. This has underpinned the expansion of the company’s product portfolio and streamlined business operations.
Titan International plans further modernization at Voltyre-Prom to allow further growth in the production of tires for international and domestic modern agricultural machinery. This will reduce Russia’s reliance on imports of the specialty tires and may eventually enable the country to begin exporting the products.
The participation of Titan International in the deal is significant as the first global industrial strategic partner RDIF has invested alongside. The deal also represents One Equity Partners’ first investment in Russia.
