Michelin has given more details of their decision to quit tyre production in Nigeria. At a press briefing the Corporate Affairs manager for Michelin Nigeria Limited, Ojo-Osagie, passed on details of the factors contributing to the decision and the measures the company plans to undertake in the coming months.
Michelin has announced that it is ceasing tyre production at its factory in Port Harcourt, Nigeria. The tyremaker informed the Nigerian government of its decision on January 16 and, according to Michelin, both parties have agreed to work together to find a buyer.
The last shift at Dunlop’s Washington UK plant clocked off ahead of schedule on 14 June. The Early April announcement that Dunlop would close the plant came as a “body blow,” to workers, the Sunderland Echo reported, as it followed a similar announcement at nearby Stag Furniture. Dunlop said it is continuing to work alongside Sunderland Council and One North East to help the workers find new employment through the JobCentre.
Delphi, the world’s largest automotive supplier, is to cut up to 6000 US jobs by the end of year.
At a press conference, Bridgestone President Shigeo Watanabe revealed that the company was to close its plant at Decatur, Illinois, where 1,500 people are employed. The plant closure will lead to a loss of $210 million, offset to some extent by cost savings of $100 million. Bridgestone will also incur an additional special loss this year, amounting to $549.6 million and the group has revised its worldwide consolidated net profit forecast from 48 billion Yen to 10 billion. For Bridgestone Japan, the company is predicting a net loss of 130 billion Yen for the calendar year 2001, the first loss for the group since it was first listed on the Tokyo Stock Exchange in 1961. Bridgestone’s shares fell nearly 2 per cent on the news, to stand at 1,273 Yen.
If you would like the latest news from the Chinese tyre industry in Chinese, visit our partner site TyrepressChina.com. Or click below to continue on Tyrepress.
