Regulatory Filings • Jul 7, 2009
Regulatory Filings
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Production will shift to U.S. retread plant
QUERÉTARO, MEXICO (July 7, 2009) – Effective today, Michelin is closing its commercial truck tread pressing plant in Querétaro, Mexico due to overcapacity in its North American retread operations. Production from the Michelin Retread Technologies (MRT) plant, which employs approximately 80 people, will shift to the company's retread plant in the United States.
This decision has no impact on the continuing operations of Michelin's passenger car and light truck tire plant in Querétaro.
The commercial truck tire retread market has not achieved the growth anticipated by North American industry forecasts, resulting in overcapacity. Therefore, Michelin is restructuring its North American retreading operations to respond to market demand.
While the plant's operational performance has been excellent, financial and market factors make this decision necessary to maintain the long-term health and competitiveness of the company. Michelin is working with employees to help them make as smooth a transition as possible.
Dedicated to the improvement of sustainable mobility, Michelin designs, manufactures and sells tires for every type of vehicle, including airplanes, automobiles, bicycles, earthmovers, farm equipment, heavy-duty trucks, motorcycles and the space shuttle. The company also publishes travel guides, hotel and restaurant guides, maps and road atlases. Headquartered in Greenville, S.C., Michelin North America (www.michelin-us.com) employs 22,600 and operates 19 major manufacturing plants in 17 locations.
Valérie Magloire +33 (0) 6 76 21 88 12 +33 (0) 1 45 66 16 15 [email protected]
Jacques-Philippe Hollaender +33 (0) 4 73 32 18 02 +33 (0) 6 87 74 29 27 [email protected]
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