Ikon Tyres has changed its owner

Tatneftekhiminvest-Holding, JSC has become the owner of a 100% stake in LLC Aicon Tyres and LLC Aicon Shina, previously owned by Tatneft, PJSC, according to the AK&M news agency.

In 2022, Tatneft sold the Kama Tyres tire complex to Tatneftekhiminvest-Holding, and in March 2023, it became the owner of the Nokian Tyres plant in Vsevolozhsk. In April of the same year, LLC Nokian Tyres was renamed LLC Aicon Tyres, and LLC Nokian Shina was renamed LLC Aicon Shina. As part of the rebranding, the production of tires under the new Ikon brand began.

AK&M notes that after a "failure" in 2022-2023, Tatneft was able to partially restore sales at the Vsevolozhsk plant, and the revenue of Aicon Shina in 2024 amounted to 50.3 billion rubles (57 billion in 2021), and Aicon Tyres - 30 billion rubles (37.7 billion in 2021).

The agency adds that although both Tatneft and Tatneftekhiminvest-Holding are controlled by the government of Tatarstan, their shareholder structure differs. Thus, Svyazinvestneftekhim, JSC, which is owned by the republic, owns 29% of Tatneft's shares, and its stake in Tatneftekhiminvest-Holding is 49%. The register of Tatneft includes almost 40 thousand shareholders, and the register of Tatneftekhiminvest-Holding includes 17.

The terms of the transfer of the tire plant in Vsevolozhsk are not disclosed, and AK&M indicates that "most likely, a sale and purchase transaction was formalized, since the transferred shares are pledged to the former owner, which means the deal is not yet closed".

In recent years, Tatneft has also become the owner of the Tengri Tyres tire plant in Kazakhstan and the Birinchi Rezinotexnika Zavodi plant in Uzbekistan.