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Tyre maker Michelin announces closure of German sites

Reuters
·1-min read
FILE PHOTO: Michelin logo at Le Bourget Airport near Paris

(Reuters) - French tyre maker Michelin said on Tuesday it would be closing three production sites in Germany and transferring its customer service centre to Poland, pointing to a "lack of competitiveness of our German operations for our European and export markets".

The company will cease operations at its Karlsruhe, Trier and Homburg sites by the end of 2025, affecting 1,532 jobs. The group currently employs more than 8,000 people across Germany, Austria and Switzerland according to its website.

"This decision is linked to the growing competition of budget truck tyres," Michelin said, adding that it would be including an approximately 425 million euro ($465.55 million) provision in its full-year results.

Michelin also announced 1,400 job cuts in the United States last month. Another German site, in Bamberg, was closed in 2019.

($1 = 0.9129 euros)

(Reporting by Victor Goury-Laffont; Editing by Andrew Heavens, Kirsten Donovan)