Clermont-Ferrand – October 26, 2023 – 6:15 pm
COMPAGNIE GÉNÉRALE DES ÉTABLISSEMENTS MICHELIN
Michelin is planning to wind down the tire production activities of its Ardmore industrial site in the United States
Today in the United States, Michelin is announcing plans to wind down the tire production activities of its Ardmore industrial site. This wind-down impacts approximately 1,400 people at the Ardmore site, which has produced passenger tires since 1970.
This decision is linked to the North American market’s shifting needs and transformations, and the site not being equipped to deliver tires at competitive costs to meet these evolving market demands. The wind-down should be completed by the end of 2025.
Michelin will record a provision of approximately 200 million euros in non-recurring expenses in its consolidated financial results for the year 2023.
DISCLAIMER
This press release is not an offer to purchase or a solicitation to recommend the purchase of Michelin shares. To obtain more detailed information on Michelin, please consult the documents filed in France with the Autorité des Marchés Financiers, which are also available from the michelin.com website. This press release may contain a number of forward-looking statements. Although the Company believes that these statements are based on reasonable assumptions at the time of publishing this document, they are by nature subject to risks and contingencies liable to translate into a difference between actual data and the forecasts made or inferred by these statements.
In accordance with Regulation (EU) No. 596/2014, this press release may contain inside information.
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