Michelin will gradually cease production at its Karlsruhe and Trier sites in Germany, as well as the new tire and semi-finished products manufacturing of Homburg. Michelin said it also will transfer the Customer Contact Center from Karlsruhe to Poland. A total of 1,532 employees are impacted by these operations, which are meant to be completed by the end of 2025, according to Michelin.
“This decision is linked to the growing competition of budget truck tires, and the lack of competitiveness of our German operations for our European and export markets,” Michelin said in a statement.
Michelin said it will record a provision of approximately 425 million euros (approx. $467,119,625) in its consolidated financial results for the year 2023.