Michelin: plans to sell Russian operations
(CercleFinance.com) - Michelin announced today that it plans to sell its Russian operations to local management by the end of 2022.
The new entity would then operate through a structure that is independent of Michelin.
The company suspended its industrial activities in Russia on 15 March and has now concluded that it is technically impossible to resume them, in particular due to supply difficulties in a lasting context of general uncertainty.
The Group is therefore forced to plan the sale of all its activities in Russia by the end of 2022 and is studying the possibility of transferring control of its tertiary and industrial operations to the current local management.
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