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Michelin considering European plant closures

Tyrepress (free subscription required) reports that Michelin is possibly considering some restructuring amongst its European capacity due to the weak conditions there.

Quoted in the Monday 25 March 2013 edition of French daily Les Echos, Florent Menegaux, director of the passenger car and light truck products division reportedly said: “We do not exclude anything, we must consider the evolution of the market, whether the situation is sustainable or not,” adding: “We are in a situation of overcapacity. All segments are impacted.” Various news sources point out that Michelin, which employs 63,000 across Europe and is the world’s second largest tyre maker, met with union representatives on 7 March to discuss the future of some of its French plants. Any move in this direction would appear to counter earlier strategies to reduce headcount in the mature European markets through the natural cycle of attrition.

Earlier this month, Bridgestone announced that it would shut its passenger car tire plant in Bari, Italy, while Goodyear announced in January that it would shut down production at its Amiens, France plant.

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