The Russian Direct Investment Fund (RDIF), Titan International Inc., and JP Morgan subsidiary One Equity Partners (OEP) have reached an agreement in principle with Cordiant to invest in Voltyre-Prom, a leading Russian agriculture and industrial tire manufacturer gaining them a controlling stake in the company with Titan International Inc. becoming the managing partner. Voltyre-Prom’s market share in agriculture tires was 43% and 16% in industrial tires in 2012 – producing a total of 1.35 million tires last year. A spokesperson for Titan stated that it is Titan’s belief that the future growth of global farming and mining lies in Russia and CIS countries.