LBCI

French tyre maker Michelin sells its activities in Russia

Variety

26-05-2023 | 06:10

Share

Share

French tyre maker Michelin sells its activities in Russia

2^min

French tyre maker Michelin (MICP.PA) said on Friday it was selling its Russia Tyre Manufacturing Company (MRTMC) and Camso CIS in Russia to Power International Tires, a tyre distributor in the country.

The agreement, approved by local authorities, will keep 250 jobs, mainly based at Michelin's sole Russian plant in Davydovo, the group said.

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 following Moscow's invasion of Ukraine.

Michelin said in April that the termination of its activities in Russia led to a 25% decline in volumes in the first quarter of this year.

Reuters

French

Michelin

Russia

Tyre

Manufacturing

Company

Subscribe to our VOD

SUBSCRIBE

Our visitors readings

US says it can keep naval blockade on Iran 'indefinitely,' vows more economic pressure

Middle East News

03:58

US says it can keep naval blockade on Iran 'indefinitely,' vows more economic pressure

Houthis claim drone strike on Saudi refinery: Affiliated media

12:02

Houthis claim drone strike on Saudi refinery: Affiliated media

Ebola deaths surpass 2,000 in Democratic Republic of Congo

2026-08-11

Ebola deaths surpass 2,000 in Democratic Republic of Congo

PM Salam: Israel’s actions in southern Lebanon violate international law

2026-08-12

PM Salam: Israel’s actions in southern Lebanon violate international law

Videos

Lebanon-Israel talks: delegations arrive at US Embassy in Rome — Video

2026-08-06

Lebanon-Israel talks: delegations arrive at US Embassy in Rome — Video

Residents begin returning to Zawtar el-Gharbiyeh, southern Lebanon: Video

2026-07-24

Residents begin returning to Zawtar el-Gharbiyeh, southern Lebanon: Video

Slotkin to LBCI: Lebanese army needs resources to confront Hezbollah, $36 million request submitted for special forces

2026-07-20

Slotkin to LBCI: Lebanese army needs resources to confront Hezbollah, $36 million request submitted for special forces

Lebanon’s ambassador to Washington: trilateral framework agreement first step toward restoring sovereignty

2026-06-26

Lebanon’s ambassador to Washington: trilateral framework agreement first step toward restoring sovereignty

Rubio on Lebanon-Israel framework agreement: 'beginning of the beginning,' more work needed

2026-06-26

Rubio on Lebanon-Israel framework agreement: 'beginning of the beginning,' more work needed

Lebanon, Israel sign trilateral framework agreement after Washington talks attended by Rubio: Video

2026-06-26

Lebanon, Israel sign trilateral framework agreement after Washington talks attended by Rubio: Video

Israeli strikes renew on Choukine, Maifadoun, and Nabatieh al-Fawqa in southern Lebanon: Video

2026-06-20

Israeli strikes renew on Choukine, Maifadoun, and Nabatieh al-Fawqa in southern Lebanon: Video

Massive Israeli strikes hit South Lebanon under ceasefire conditions

2026-06-19

Massive Israeli strikes hit South Lebanon under ceasefire conditions

Trump criticizes Israel’s Lebanon campaign, says war has gone on ‘too long’ and floats Syria role in conflict

2026-06-16

Trump criticizes Israel’s Lebanon campaign, says war has gone on ‘too long’ and floats Syria role in conflict

Most read

24 hours

7 days

Month

Lebanon has not agreed to shortlist of countries that could verify Hezbollah's disarmament: Reuters

1

Lebanon has not agreed to shortlist of countries that could verify Hezbollah's disarmament: Reuters

Ali al-Taher hills: Between military confrontation and surrender scenario

2

Ali al-Taher hills: Between military confrontation and surrender scenario

Dispute between Lebanon’s prime minister and defense minister under discussion, sources say

3

Dispute between Lebanon’s prime minister and defense minister under discussion, sources say

Lebanon Cabinet approves fees on waste-generating products despite ministerial objections

4

Lebanon Cabinet approves fees on waste-generating products despite ministerial objections

A new force for Lebanon's south? The debate over who will monitor the next phase after UNIFIL

5

A new force for Lebanon's south? The debate over who will monitor the next phase after UNIFIL

Explosion rocks ammunition factory near Rome

6

Explosion rocks ammunition factory near Rome

Lebanon presidency denies media reports on Aoun-Trump meeting

7

Lebanon presidency denies media reports on Aoun-Trump meeting

Lebanon announces dates for 2026 vocational education exams for private candidates

8

Lebanon announces dates for 2026 vocational education exams for private candidates

Download now the LBCI mobile app

To see the latest news, the latest daily programs in Lebanon and the world

Google Play

App Store

Download now the LBCI mobile app

We use
cookies

We use cookies to make
your experience on this
website better.

Accept

Learn More