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Michelin Sells Russian Assets | AutoHero.com.au

Michelin Sells Russian Assets

After suspending its industrial activities in Russia on March 15 2022, following the start of the conflict in Ukraine, Michelin has recently announced it has an agreement with power international tyres LLC to purchase two of its local companies, Michelin Tyre Manufacturing Company (MRTMC) LLC and Camso CISLLC.

Power international tyres are one of the leading tyre distributors in Russia and have a presence throughout the country.

Approved by local authorities, the agreement will allow for saving 250 jobs , mainly based in Davydovo. The option to pass the activity onto local management was not possible due to major difficulties preventing these activities being rendered autonomous.

Aware of the fact that not all staff could be taken on by Power International Tyres, Michelin allowed those who wished to leave the company under good conditions to do so.

Published with permission from AUSTRALIAN WORKSHOP MANAGER  www.aaen.com.au

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