Michelin: sells two subsidiaries in Russia
(CercleFinance.com) - After suspending its industrial activities in Russia in March 2022, Michelin has announced that it has signed an agreement with Power International Tires for the latter to acquire its two local companies, Michelin Russia Tyre Manufacturing Company and Camso CIS.
Power International, a well-known Michelin partner, is one of the leading tyre distributors in Russia and is present throughout the country, the French tyre maker said.
This agreement, which follows a study of various options, is aimed at preserving jobs. Approved by the relevant local authorities, it will safeguard 250 jobs, mainly in Davydovo.
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Power International, a well-known Michelin partner, is one of the leading tyre distributors in Russia and is present throughout the country, the French tyre maker said.
This agreement, which follows a study of various options, is aimed at preserving jobs. Approved by the relevant local authorities, it will safeguard 250 jobs, mainly in Davydovo.
Copyright (c) 2023 CercleFinance.com. All rights reserved.