The Michelin group announced on Friday, May 26, that it had sold its activities in Russia to the Russian group Power International Tires LLC. Michelin had about 1,000 employees in Russia, including 750 in Davydovo, near Moscow.
The French tyre giant achieved a 2023.7% increase in sales in the first quarter of 4 to €6.96 billion, as higher selling prices more than offset lower volumes sold. The manufacturer had suspended its activities following the war in Ukraine.