Michelin Considering Reducing Production at Three Sites in Germany

[auto-translated from German] Given the growing competitive pressure and rising production and administrative costs in Germany, Michelin Germany has begun consultations with its social partners.

The subject of these discussions is the competitive situation and the production reduction of the Michelin activities in Karlsruhe and Trier as well as the production of new tires and the manufacture of semi-finished products in Homburg. The aim of these discussions is to jointly examine possible options for this situation. No decision has been made at this time. Michelin employees in Germany will be the first to be informed about the conclusion of these discussions.