The factory of the French Michelin, located in Davydovo near Moscow, has a new owner. Acquires the assets of Power International Tires LLC, a distributor of this and other tire brands.
A potential buyer has been supplying tires from the Chinese brand Hifly since 2022. Analysts believe that Power International Tires can expand cooperation with Chinese companies through the purchase of a tire factory near Moscow. At the same time, they note that, at best, it will be possible to resume production only after several months.
*This material was created by a person who has the status of a foreign agent in the Russian Federation.
Michelin is the first foreign tire manufacturer to locate production in Russia (in 2004). The capacity of the factory is approximately 2 million tires per year. The site in the Moscow region has been shut down since spring 2022.
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Source: Commercial