Michelin buffs away loss-making Laurent pre-cure business in Germany

Weak demand and aggressive competition has led to seven-figure losses at the Laurent Reifen retreading plant in Germany, and in response the Michelin-owned company has decided to close its pre-cure retreading operations and lay off almost a quarter of its workforce. But it is questionable whether this measure will suffice to halt the flow of red ink required to write the firm’s balance sheet in recent years; apparently the complete closure of the Laurent Reifen site near Berlin has already been internally discussed.