Marangoni and Tatneft Group agreed to form a joint venture in Russia for tire retreading of all steel truck tires. The joint venture company will be based in Nizhnekamsk, Republic of Tatarstan. The joint venture will be operated through “KaMaRetread” LLC where LLC “Trading House “Kama”, a wholly owned subsidiary of Tatneft, will own 65% while Marangoni S.p.A. will own 35%.
Marangoni S.p.A. will contribute to the JV its unique equipment, technologies and experience in tire retreading, and will provide necessary training, while Tatneft Group will provide a facility for the retreading, management and personnel as well as local expertise.
Once the JV commences its operations (that is expected in the first half of 2015), it will provide truck tire consumers, including consumers of all steel truck tires manufactured at Tatneft owned plant in Nizhnekamsk, with top quality retreading service assured by advanced level of technology aimed at offering a significant increase in the tire life.
Marangoni and Tatneft Group believe in market potential of the JV and consider it as the first step for the expansion of cooperation in the future.
About Tatneft: Tatneft is one of the largest oil and petrochemical vertically-integrated groups in Russia. Tatneft is engaged in production of oil and gas, refining and marketing of oil and refined products, as well as manufacturing and marketing of tires. Tatneft is listed on the Moscow Exchange and London Stock Exchange.
About Marangoni: Marangoni is a private group established in 1945 in Rovereto, Italy, active in tyre retreading sector and in the development of technologies and equipment for the production of new and retreaded tyres. Marangoni Retreading Systems is a market leader in the supply of truck tire retreading technologies and materials with operations around the world.