Tyre maker Michelin announces closure of German sites
Add BT as a preferred source
FRENCH tyre maker Michelin said on Tuesday (Nov 28) it would be closing three production sites in Germany and transferring its customer service centre to Poland, pointing to a “lack of competitiveness of our German operations for our European and export markets”.
The company will cease operations at its Karlsruhe, Trier and Homburg sites by the end of 2025, affecting 1,532 jobs. The group currently employs more than 8,000 people across Germany, Austria and Switzerland according to its website.
“This decision is linked to the growing competition of budget truck tyres,” Michelin said, adding that it would be including an approximately 425 million euro (S$622 million) provision in its full-year results.
Michelin also announced 1,400 job cuts in the US last month. Another German site, in Bamberg, was closed in 2019. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
DeepSeek founder Liang Wenfeng becomes the world’s richest AI model creator
Singapore fuel distributor Global Group doubles down on Timor-Leste with US$10 million oil terminal
Early payout from Philippines’ Maharlika Investment Fund raises eyebrows over its true nature
Flight to safety: New citizens and PRs drive Singapore luxury home sales as broader market cools
