(Bloomberg) — The French tyre manufacturer Michelin is suspending its operations in Russia and exports to the country, becoming the latest in a list of companies to halt their activities in the country.
The industrial company's Davydovo plant employs about 750 people and manufactures tires for passenger cars and retreaded tires for trucks, mainly for the local market, according to a statement released on Tuesday.
“The group remains fully mobilized and will continue to adapt its decisions as the situation evolves,” the statement said.
The manufacturer follows a large number of companies, from food and credit card companies to automakers and fashion companies, who have withdrawn from Russia after President Vladimir Putin invaded Ukraine.
Michelin warned last month that 2022 would be as difficult as last year in terms of supply sourcing due to severe supply chain bottlenecks and transport routes.
Original Note:
Michelin Suspends Russian Operations, Exports to Country
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