Company History

Amtel began operations in 1990 as an equipment and components supplier for the defence industry, and a natural rubber supplier for the Russian tire industry and industrial rubber plants.

1994–1997

Amtel invests in a number of turnkey projects building packaging production plants using the latest Tetra Pack equipment.

1997

The company increases its feedstock supplies to the petrochemical industry and starts to actively pursue acquisition of related enterprises in order to form tire-production.

The Krasnoyarsk Tire Plant is purchased.

1999

Amtel becomes a shareholder in the Amtel-Povolzhe Tire Plant in Kirov and acquires the Amtel-Chernozemye Tire Production Complex in Voronezh, the Amtel-Kuzbass Chemical Plant in Kemerovo, and the Chernigovsk Chemical Fibre Plant.

2001

The Amtel Group was joined by the Amtel-Kuzbass Chemical Fibre Plant and the Amtel Industrial Carbon Plant in Volgograd.

2002

The company, OOO Amtelshinprom (Amtel Tire Industries), is set up to create an integrated product supply and retail system to service the needs of Amtel?s operating subsidiaries.

Amtel sets up its own Research and Development Centre.

The Group issues its first three-year bonds for a total value of RUB 600 million structured in the form of a loan from the management company, OOO Amtelshinprom.

The Amtel Holding Company is set up.

2003

Templeton Strategic Emerging Markets Fund LDC — an international investment fund — becomes a minority shareholder of the Group.

2004

Templeton Strategic Emerging Markets Fund LDC, an international investment fund, exercises its option to acquire additional shares in Amtel Holding, increasing its stake in the Group to 5.65%.Amtel places 10% of its share capital in a private placement among institutional investors through Troika Dialog investment bank. 4.1% of the Group’s equity is acquired by Citicorp International Finance Corporation.

Amtel sold a private placing of 10% of its shares among institutional investors with the participation of the Troika Dialog investment bank. 4.1% of the group’s shares were acquired by the Citicorp International Finance Corporation.

2005

Amtel acquires Vredestein Banden  B. V. international tire company for the total consideration of EUR 195.6 million.

Amtel places two-year Credit Linked Notes (CLN) for a total amount of US$ 175 million.

The Group executes a series of private placements and raises US$ 70 million from the Alfa-Bank Holding Company and Temasek Holdings.

The Amtel Holding Company LLC changes its name to Amtel-Vredestein OJSC.

The serial production of Vredestein premium tires begins at Amtel-Povolzhe Tire Plant in Kirov.

The Group signs agreements to purchase three retail networks in the Moscow Region: Koleso-Severavto-M, Rosshina and UVL.

The name of the Groups parent, Amtel Holdings Holland  N. V., is changed to Amtel-Vredestein N. V.