US EditionChinese tire competition, energy and wage costs: Michelin CEO justifies his factory closures
3 Articles
3 Articles
Before the senators, Florent Menegaux explained that between rising energy costs and inflation, it had generally become “twice as expensive” to produce tires in Europe as in Asia since 2019.
Between the competition from Chinese tires and the costs of energy and wages, Michelin can no longer export from Europe, explained its CEO Florent Menegaux on Wednesday in the Senate to justify the closure of two factories in France, including that of Vannes.
The CEO of the Michelin Group Florent Menegaux was heard by the Senate this Wednesday morning to explain the tire group's choices to close the factories in Vannes and Cholet, where 1,254 people work. He mentions the competition from Chinese tires, energy costs and wages.
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