Michelin: to close Dundee site

(CercleFinance.com) - Michelin has announced its intention to close its site at Dundee in the United Kingdom by mid-2020.
This plant manufactures 16-inch and smaller MICHELIN tyres for cars and has been faced with serious difficulties over recent years.

The group explains that, "the accelerated market transformation has made the plant unsuitable" and that "its conversion is not financially viable". The priority now is "to provide the 845 employees of the factory with the most effective support possible".

To finance this operation, the French tyre manufacturer says that it will book a provision of about 155 million euros in non-recurrent charges in its consolidated accounts at 31 December 2018.



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