Michelin Weighs Shuttering More Plants on Europe Downturn.

Michelin is considering closing more plants in Europe due to a decline in tire demand caused by the region's difficult economic situation. The company has already shut down some struggling plants in Germany and Poland. Michelin's CEO cited high energy costs, competition from budget tires from China, and increased salary and logistics costs following the pandemic as factors affecting competitiveness. The company is actively reviewing its industrial footprint and looking for solutions. Michelin is also focusing on high value-added sectors to offset the decline in demand for tires. [Extracted from the article]