Michelin found a buyer for a factory in Russia

Michelin Group has found a buyer for a tire plant in Davydovo, which has been idle since March 2022. Initially, the company intended to sell assets in the Russian Federation to local management, but in its financial statements for 2022 it allowed the participation of a third party, announcing ongoing negotiations. According to Kommersant newspaper, citing its sources, the deal to sell the Russian assets of Michelin is close to completion, the buyer is the distributor of tires of this and other brands, LLC Power International Tires.

Michelin said that the owner is considering a possible sale of assets in Russia, by refusing to comment on a possible buyer and the prospects for a site in the Moscow region. Power International Tires LLC, which is engaged in the wholesale trade of automotive components, received certificates of conformity for Hifly brand tires (China) for cars and trucks in October 2022. According to experts, this cooperation can help restart the plant, but it will be difficult to load it even by a quarter. Recall that Michelin has been represented in the Eastern European region since 1997.

In 2004, Michelin plant for the production of passenger tires was opened in the village of Davydovo (Orekhovo-Zuevsky district, Moscow region). The production capacity of the enterprise is 1.5 - 2 million tires for passenger cars. The plant in the Moscow region produced both summer and winter tires, some of the products were exported (now EU sanctions prohibit the import of tires from the Russian Federation).