Leaving Russia has seriously damaged Michelin’s well-being
- July 28, 2022
- 0
On June 28, 2022, the Russian office of French tire manufacturer Michelin officially announced its withdrawal from Russia. And now it became known how much this decision cost
On June 28, 2022, the Russian office of French tire manufacturer Michelin officially announced its withdrawal from Russia. And now it became known how much this decision cost the tire giant.
It was decided to “turn off” the exit by transferring all of Michelin’s Russian manufacturing and commercial assets to “local management”. This is a fairly long process, which is not expected to be completed until the end of 2022.
Before these events, the staff of the company’s Russian representative office consisted of about 1,000 people. Of these, 750 worked at the Davydovo production site near Moscow, where 1.5 to 2 million passenger tires can be produced annually.
It has now been revealed that the Russian market accounts for 2% of the brand’s global tire sales and 1% of total passenger tire production. In a published report, the world-renowned manufacturer said the loss of the Russian market cost him 202 million euros.
Meanwhile, the German automaker Mercedes-Benz, after ceasing its activities in our country, faced much more impressive financial costs. Portal “AvtoVzglyad” provides details.
It was decided to “turn off” the exit by transferring all of Michelin’s Russian manufacturing and commercial assets to “local management”. This is a fairly long process, which is not expected to be completed until the end of 2022.
Before these events, the staff of the company’s Russian representative office consisted of about 1,000 people. Of these, 750 worked at the Davydovo production site near Moscow, where 1.5 to 2 million passenger tires can be produced annually.
It has now been revealed that the Russian market accounts for 2% of the brand’s global tire sales and 1% of total passenger tire production. In a published report, the world-renowned manufacturer said the loss of the Russian market cost him 202 million euros.
Meanwhile, the German automaker Mercedes-Benz, after ceasing its activities in our country, faced much more impressive financial costs. Portal “AvtoVzglyad” provides details.
Source: Avto Vzglyad
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
