French tire manufacturer Michelin leaves Russia

11:46 28 June Kyiv, Ukraine

On June 28, the French concern Michelin officially announced that it intends to completely cease its activities in Russia by the end of 2022.
"Following the suspension of production activities in Russia since March 15, 2022, the Michelin Group makes a statement that it is not technically possible to resume it, in particular due to logistical difficulties in the current volatile and uncertain context," the company said in a statement.
The Russian Michelin plant located in Davydovo, Moscow Region, will be sold to the management of this enterprise.. The new firm will have no connection with the Michelin structure and brand.
Michelin in Russia employs about 1,000 people, 750 of whom work at the production site in Davydovo near Moscow. The production capacity of the tire plant is 1.5-2 million passenger car tires per year.. Sales in Russia account for two percent of Michelin's global sales.