a result of the adverse trends and aggressive competition in the European truck
tyre market, which remains volatile and 23pc down on its historic peak in 2007,
Michelin has announced its intention to close its truck tyre production plant
in Budapest in Hungary.
to a company statement, the decision reflects the fact that extending the
facility is no longer possible, due to its location in an urban setting, and
that improving its competitiveness would require excessive upgrading with new
plant’s production of tyres sold under the Taurus, Riken and Kormoran brands
would be terminated in mid-2015. As part of the information and consultation
process, Michelin’s priority will be to offer individual support measures to
each of the 512 concerned employees.
will also meet with local authorities to discuss possibilities of reconverting
the site in accordance with their urban development projects and intends to
help develop business activities likely to create jobs in the region.
Budapest plant’s production will be mainly reallocated to the Michelin
facilities in Olsztyn (Poland), Zalau (Romania), Karlsruhe and Homburg
will retain a presence in Hungary with its facilities in Nyíregyháza, Vác and
maintains a strong presence in Hungary and will continue to produce very high
performance car tyres at its Nyíregyháza plant, which is playing a major role
in Europe in this segment. Michelin is also maintaining the operations of its
logistics centre in Vác, which serves countries in Central and Southern Europe,
and its strategic raw materials marketing unit in Tuzsér.
addition, Michelin will continue to manage its entry-level car tire operations
from Budapest, while maintaining all of its Hungarian sales operations.
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