Michelin Puts Up the For Sale Sign in Nigeria

On March 21 Michelin invited prospective investors to submit expressions of interest in its soon to be closed factory in Nigeria. The company released a notice stating that the company “wishes to invite expressions of interest for the purchase of all or part of the Michelin factory in Port Harcourt,” and specified that applicants could be either local or international businesses capable of demonstrating a proven track record in project development, strong financial capabilities and technical expertise in their field.

The closing date for bids is March 30, and Michelin has said that suitable applicants will be invited to attend a detailed presentation of the factory and related assets.