Michelin Plans to Reduce Capacity of Truck Tires
2013-06-17 Source：www.chinabuses.org
Summarize：On June 13th, 2013, as the reporter learned, Michelin has announced that it would lay off 730 staff of a heavy truck tire plant in France to remit excess capacity in European areas.
www.chinabuses.org:On June 13th, 2013, as the reporter learned, Michelin has announced that it would lay off 730 staff of a heavy truck tire plant in France to remit excess capacity in European areas.
By the first half of 2015, Michelin planned to terminate the manufacturing business of heavy truck tires in Joue-les-Tours, lay off 730 staff out of 930, and transfer the rest to non-production positions. What’s more, Michelin planned to sell its heavy truck tire business of Algeria.
Last month, Jean-Dominique Senard, CEO of Michelin, once said that rate of capacity utilization of Michelin truck tire plant in Europe had been cut to 50%-60% and the rate of capacity utilization of passenger vehicle and light truck tire plants was only 70%. To resolve this problem, Michelin was looking for the increase outside Europe, used in expansion of tire categories of large vehicles such as mining equipments.
Moreover, Michelin also announced that it would invest 800 million Euros in France by 2019. As a part of this project, Michelin would spend 145 million Euros on extending two engineering tire plants to improve their capacity with an increase of 30%-40%. Tires of these two plants are mainly used in engineering equipments, such as bulldozers. Besides, Michelin also planned to spend 220 million Euros on upgrading research and development center in Clermont-Ferrand.
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