Michelin has announced the sale of its activities in Russia by the end of 2022. The Russian market represents 2% of the group’s sales and this decision will have no impact on its results.
Around Michelin to announce its withdrawal from Russia. This Tuesday, the tricolor firm announced the sale “by the end of 2022” of its activities in the country. A new stage, ” after having suspended its industrial activities in Russia on March 15 last, “ the firm said in a press release.
Michelin does indeed “the finding of the technical impossibility of their recovery. » The conclusion is therefore simple, especially since the Russian market remains quite modest for the group. The activities represent 2% of sales, 1% of passenger car tire production. A drop of water on the 23.795 billion euros in turnover of 2021.
The jobs of future ex-Michelin employees preserved?
The company based in Clermont-Ferrand (Puy-de-Dôme) therefore does not expect to suffer from such a decision. Elle will also not abandon its employees. The control of tertiary and industrial operations could be transferred to local management. This last “would operate via a structure independent of Michelin. »
The 1,000 employees could therefore keep their job. let’s remember that three quarters of them work in the Davydovo plant (near Moscow). They produce between 1.5 and 2 million tires each year since 2004, date of opening of the site. Most go to local market cars.
The Russian market is collapsing
Or, the Russian car market is collapsing. In April, new vehicle registrations unscrewed by 78.5%. The fault in particular of the flight of builders, to economic sanctions. In response, Moscow decided to produce cars with lower safety standards. ABS, airbags and seat belts are no longer mandatory.
Michelin also pointed to « supply difficulties in a lasting context of general uncertainties. » These relate in particular to the carbon blacka tire component from Russiamaking it necessary to find alternatives.
Still, the French group joins many companies that have left the Russian market. The best example for the automobile industry in France remains that of Renault, which sold its assets to the Russian state last May.
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