An American-Russian joint venture for artificial resin production is being set up in Nizhniy Tagil at the moment. The resin is meant to satisfy the needs of the abrasives, friction materials, and tire-making industries. The JV, founded by Uralkhimplast and SI Group, is called Uralkhimplast SI Group and will be located on the premises of Tagil Chemical Park, the company’s press release says.

This project is part of Governor Alexander Misharin’s initiative for the creation of a chemical cluster in the Mid-Urals. The negotiations for the project began in 2010, the decision to set up the JV was made last year, and the articles of incorporation will be signed on May 10.

The JV’s potential customers are Nokian, Michelin, Yokohama, Pirelli/Rostechnologii JV, and, in the future, Continental, Bridgestone, and Good Year.