Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market

Exited Exit Completed

Michelin is the second largest tyre manufacturer in the world behind Bridgestone and larger than both Goodyear and Continental.

 
 
 
 

Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market

Exited Exit Completed
France
Automotive

Global 500, is an annual ranking of the top 500 corporations worldwide

Global 500
Revenue(RF), mln.USD
212
Assets(RF), mln.USD
173
Capital(RF), mln.USD
142
Glob.Revenue, mln.USD
30061
Plants
1
Staff(RF), 2021
1250

Michelin announced its intention to transfer its activities in Russia to local management by the end of 2022.

The Company Statement
May 26, 2023

Halting production at some plants/reviews. Suspended all operations in Russia. The deal for the sale of Michelin's Russian assets is close to completion, the buyer is the distributor of tires of this and other brands Power International Tires LLC. French tyre maker Michelin said on Friday 26.05.2023 it was selling its activities Russia Tyre Manufacturing Company (MRTMC) and Camso CIS in Russia to Power International Tires, a tire distributor in the country. The agreement, approved by local authorities, will save 250 jobs, mainly based in Davydovo, the group said in a statement. 06.2023: "POWER INTERNATIONAL TIRES" LLC becomes the new founder of the organization. The record about the founder of COMPANY FINANCIAL MICHELIN has been deleted.

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Statements Archive
May 26, 2023French tyre maker Michelin sells its activities in Russia
May 12, 2023Michelin response
March 08, 2023Michelin still working on exit from Russia | European Rubber Journal
February 14, 2023Michelin’s Russia exit taking longer than planned
January 23, 2023Letter sent by B4Ukraine to the company (no response provided)
June 28, 2022Michelin announces its intention to transfer its activities in Russia to local management by the end of 2022
March 15, 2022The Michelin Group is suspending its industrial activity in Russia, as well as its exportations to Russia
March 15, 2022Michelin stops tire production at a plant near Moscow and exports to Russia
March 04, 2022Gastronomic guide Michelin froze projects in Russia
January 15, 2022PR Michelin Russia 20220315
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