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* France - Michelin to Shut Plants
* Would close a truck-tire factory in France and another in Algeria
Paris,France -The Wall Street Journal, by DAVID PEARSON -June 10, 2013: -- Michelin said on Monday it would close a truck-tire factory in France and another in Algeria as Europe's prolonged economic downturn punctures demand for new trucks and replacement tires... The family-controlled French tire maker will book a €135 million ($178.5 million) restructuring charge in the first half as it concentrates its truck-tire production at its remaining French facility... Michelin said it would close its truck-tire plant at Joué-lès-Tours, in central France, and shift the factory's production to another French plant at La Roche-sur-Yon, where the company will invest €100 million to retool and raise production capacity to 1.6 million tires a year, of which 75% will be exported... The Joué-lès-Tours plant employs 930 workers, of which 200 will be kept on to work on semifinished products... Michelin said it is closing its truck-tire plant in Algeria, which will be sold to Cevital, a private company. The French tire maker said the plant is too small to be competitive and doesn't have room to expand...
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Labels: tires makers news worldwide
posted by Unknown @ 7:34 AM
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