HELSINKI, Finland -- Japan's Bridgestone neither confirmed nor denied a deal to make tires with Russia's Amtel, with the firm also saying on Wednesday that it saw no reason for Amtel's joint venture with Nokian Renkaat to end.
"We see no reason why the original agreement between Nokian and Amtel should be broken," Bridgestone spokesman Gert Meylemans said. Bridgestone holds a near 20 percent stake in Nokian. Amtel Vice President Anatoly Volnov said that his firm had agreed with Bridgestone to make tires in Russia and may scrap a production deal with Finland's Nokian.
Nokian said in a statement that it still has an agreement with Amtel.