In France, certain factories of tire manufacturer Michelin have been shut down for several weeks because global demand for tires has fallen. The company reported this on Tuesday.
The production stop currently applies to special tires, for example for agricultural vehicles. The sites of Troyes and Puy-en-Velay will be closed for approximately three weeks. Production of tires for regular cars has also been lower in recent months.
“We have to adapt our production to the circumstances,” said Michelin CEO Florent Menegaux in a response to the newspaper Le Parisien. “But one must make a distinction between cyclical and structural. We never close a site due to economic circumstances.”
In 2021, Michelin, which has 132,300 employees, already implemented a major restructuring.
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