Michelin Shareholders Support Nigerian Plant Closure
Michelin Group shareholders have expressed their support for the company’s decision to end the production of tyres at its factory in Portharcourt, Nigeria. This decision has been one that has attracted much questioning from manufacturing sector stakeholders, as the reasons behind Michelin’s withdrawal have been shrouded in uncertainty and rumours have abounded that it must in some way be liked to existing security risks for French personnel at the plant. A recent rumour alleges that a French national employed by Michelin was kidnapped and a ransom of an undisclosed amount was required before his release.