Michelin sells its operations in Russia.

French Tyre Maker Michelin Sells Russian Plants to Power International Tires

By Dina Kartit

(Reuters) – French tyre maker Michelin announced on Friday that it is selling its Russia Tyre Manufacturing Company (MRTMC) and Camso CIS in Russia to Power International Tires, a tyre distributor in the country.

The sale price has not been disclosed, but the agreement has been approved by local authorities and will keep 250 jobs, mainly based at Michelin’s sole Russian plant in Davydovo. The plant, located near Moscow, employs 750 people and produces up to 2 million tyres per year, mainly for passenger cars for the Russian and some Northern European markets.

Michelin said it was impossible for every employee to be transferred to Power International Tires, and so those who wished to leave the company would be allowed to do so “under good conditions”. The French company had been present in Russia since 1997 and became the first international tyre company to open its own production plant there in 2004. It announced last year that it was suspending industrial activity in Russia and exports to the country because of supply chain difficulties following Moscow’s invasion of Ukraine.

Following the announcement, Michelin said that sales in Russia represent 2% of the group’s total and 1% of its global car tyre production. The tyre industry has been hit hard by Western sanctions on Russia, which have cut off supplies of critical raw materials and shuttered factories that supply customers outside Russia.

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