The Amtel-Vredestein Sibur-Russian Tyres merger has now officially been called off, as the Dutch manufacturer wasn’t able to find investors to fund the emission $100 million-worth shares before the deadline – 30 September.

Snowtrac 3 (successor to Snowtrac 2) wins industry leading winter tyre test!

Upon making the announcement on August 19 the company said the stoppage is the result of a working capital shortage it has experienced in recent months.

Despite net sales rising 29.4% to $994 million in the full 2007 year to Dec. 1, Amtel-Vredestein has recorded a pretax loss of $222 million for the year.

Last year’s Winter Tyre Review (T&A, September 2007) featured three Vredestein tyres designed to withstand cold weather.

Russian media has reported that Amtel-Vredestein shareholders will receive no 2007 dividend from the Amtel Chernozemye tyre factory in Voronezh, Russia, following a decision made at the facility’s annual meeting on June 9.

Amtel-Vredestein’s Russian unit has completed the sale of its Moscow Tyre Plant operations to one of the companies of Midland Resources Holding Ltd. for $77 million.

Sibur Russian Tyres announced that it will not consider forming a joint venture with troubled Amtel-Vredestein NV until A-V clears up its debt problems.

Dutch tyre manufacturer Vredestein has become the latest company to join TyreSafe.

Tyre producer Amtel-Vredestein NV said, in response to press speculation last week, that production at its Amtel-Povolzhye tyre complex was resumed on Feb. 15, due to a temporary suspension in the supply of raw materials.