Michelin wants to withdraw from Russia – economy

– The French tire manufacturer suspended its business in Russia and exports there in mid-March. The company intends to withdraw entirely from Russia by the end of the year.

In view of the war against Ukraine, the French tire manufacturer Michelin intends to withdraw completely from Russia by the end of the year.

All activities there should be handed over, according to a statement from the group based in Clermont-Ferrand, France, on Tuesday. It is being considered to transfer administration, sales and industrial operations to the current local management in Russia.

Michelin suspended its business in Russia and exports there in mid-March. It is now technically not possible to resume production, the company said, mainly because of problems in the supply chain. Around 1,000 people work for the French tire manufacturer in Russia, most of them in a factory about 100 kilometers from Moscow. According to the company, up to 2 million tires are manufactured in the plant every year. Sales in Russia therefore account for two percent of all sales and production for one percent of the group’s total production.

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