Michelin Temporarily Closing Romanian Factories

Michelin has notified Romanian media that it will temporarily close its factories in that country until further notice in response to a greatly reduced demand for tyres. In a press release sent to national press agency Agerpres, Michelin management said that the demand for tyres in the European Union has decreased, forcing the company to “adjust production.”

Michelin, who operates two tyre manufacturing facilities and a steel cord manufacturing plant in Romania, and employs approximately 3,400 people, will pay workers 75 per cent of their pay during the period of closure. The company is expected to announce a reopening date for the factories within a few days.