French tyre major Michelin has announced that it intends to close down production at its Cholet and Vannes plant by early 2026. This move is on the back of severe economic difficulties faced by the plants over several years and is expected to affect 1,254 employees.

The Cholet plant employs 955 people, and mainly manufactures 17-inch and smaller light truck tyres. These represent 85 percent of its operations. The tyre maker states that in recent years, the ‘light truck segment has contracted significantly in Europe, with a major impact on the plant’s production volumes, which fell from around 4.375 million units in 2019 to around 2.625 million in 2024, with no prospects for recovery.’

On the other hand, the Vannes facility employs 299 people and mainly produces metal reinforcements, i.e., cables, handling all of the steps in the manufacturing process. The production is used to manufacture truck and passenger car tyres in Michelin customer sites located in Spain, Italy and the rest of Europe. The production volume has dropped from 41,000 tonnes in 2019 to 34,000 tonnes in 2024, with no prospect of recovery.

Michelin claims that despite its teams’ remarkable engagement and the Group's efforts, the viability of the two plants could not be preserved.

At present, Michelin has decided to halt production at both plants through 11 November to give management and the unions time to propose collective and individual discussions with employees.

It is important to note that the demand has been facing severe headwinds including worsening competitiveness of Europe, notably due to inflation and rising energy prices. This decision Michelin says has been made ‘as a last resort, once all alternative solutions and scenarios have been analysed and evaluated.’

In recent years, European passenger car & light truck and truck tyre demand has shifted towards low-cost tyres mainly from Asia. This has led to structural production overcapacity at some of Michelin's passenger car and light truck and truck tyre plants in Europe.

To ensure the decision does not severely impact its employees, Michelin Group says it is committed to ‘mobilising all available resources to individually support the 1,254 affected employees and the two communities impacted by these closures.’

For this, Michelin Group will record a provision of approximately EUR 330 million in its consolidated financial results for the year 2024. 

The Michelin Group currently employs nearly 19,000 people in France, including 9,000 in manufacturing in 15 production plants. Even with the two facilities shut down, the tyre maker claims France will remain the group’s first industrial country in Europe, in both the number of sites and employees.

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Finnish tyre manufacturer Nokian Tyres Plc said its chief financial officer Niko Haavisto would leave the company, with the firm moving quickly to appoint an interim replacement whilst searching for a permanent successor.

The Helsinki-listed company announced that Jari Huuhtanen, currently vice president of group business control, would step into the CFO role on an interim basis from June 1st as the recruitment process gets underway.

Nokian Tyres, known for its winter and all-season tyres, provided no details regarding Haavisto's reasons for departure or his future plans.

The announcement comes during a challenging period for the global tyre industry, which has faced supply chain disruptions and fluctuating raw material costs.

"I want to thank Niko for his contributions to the company. Niko has been a valuable member in the Nokian Tyres team, and we wish him all the best in his future endeavours," said Paolo Pompei, president and chief executive of Nokian Tyres.

The company has not disclosed a timeline for appointing Haavisto's permanent replacement.

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French tyre manufacturer partners with Cherry Tyre Park for 3,000 sq ft facility in Indiranagar

Michelin has opened a new service store in Bengaluru, expanding its retail footprint in India's technology capital as demand for premium automotive services rises alongside growing luxury car ownership.

The 3,000 square foot Michelin Tyres & Services Store, located in the upmarket Indiranagar district, has been established through a partnership with Cherry Tyre Park, India's largest tyre retail network. The facility offers precision tyre fitting, wheel balancing and alignment services.

Michelin's expansion comes as Bengaluru experiences increased demand for high-performance mobility solutions, driven by a growing market for premium and luxury vehicles in the city, which serves as India's information technology hub.

"Bengaluru has always been a key market for us with our consumers valuing quality, innovation, and performance. The launch of this new Michelin Tyres & Services store in partnership with Cherry Tyre Park strengthens our commitment to bringing world-class services and a premium experience for our customers in this dynamic and fast-growing market," said Shantanu Deshpande, Managing Director of Michelin India.

The store was inaugurated by Siddharth Mehta, Marketing Director at Michelin India, alongside representatives from Cherry Tyre Park.

Cherry Tyre Park has maintained a partnership with Michelin for over 12 years. The collaboration reflects Michelin's strategy to leverage established retail networks whilst expanding its presence in India's southern region.

The French company, which positions itself as a technology leader in the tyre industry, has been tailoring its premium offerings to meet the requirements of luxury and high-performance vehicles as India's automotive market evolves.

Michelin's latest store opening underscores the company's broader commitment to enhancing retail infrastructure and customer service capabilities across key Indian markets, particularly in regions with significant premium vehicle penetration.

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Italian industrial machinery manufacturer Comerio Ercole SpA is celebrating its 140th anniversary this year whilst unveiling significant investments in research and development capabilities as the family-owned company seeks to strengthen its position in global polymer processing markets.

The Busto Arsizio-based firm, which exports 94 percent of its production worldwide and employs 250 people across its group operations, has published a commemorative 272-page book documenting its industrial journey from 1885 to 2025. The company was founded by Ercole Comerio, known affectionately as “Ul Balösu”, who launched the enterprise the same year he married Teresa Marcora.

Comerio Ercole will showcase two major technological developments at its main production facility on 6th  June, opening its doors to institutional partners and industry stakeholders. The company is launching a new universal Industry 5.0 manufacturing centre alongside an expanded R&D technology centre featuring advanced experimental equipment.

“Our corporate DNA is based on deep respect for tradition and constant forward-looking drive within an evolutionary process that never stops,” said Riccardo Comerio. “Every day we face challenging and stimulating situations that push us to keep improving.”

The R&D expansion includes two new experimental machines - one for mixing and one for calendaring - equipped with cutting-edge longitudinal stretching units for thin sheets. The facility’s main laboratory operates as a “mini-factory” with a four-roll calendering line that can be reconfigured to three or five rolls depending on process requirements.

The enhanced laboratory features a dual-feeding system accommodating direct extrusion and feeding from mills and internal mixers. A second laboratory houses a calendering line designed for the embossing processes of films and nonwovens, offering up to 100 different patterns for material enhancement.

These investments are designed to bolster the company’s capacity to support customers in developing new polymer and elastomer processing techniques. Comerio Ercole’s R&D team provides project support through patent validation, underlining the firm’s focus on technology and service delivery.

Economic journalist Luciano Landoni, who authored the commemorative book's afterword, highlighted the company’s entrepreneurial example. “The entrepreneurial example of Comerio Ercole is highly motivating, especially for young people, who now more than ever need concrete signals based on competence, passion and vision," he said.

The company operates under the corporate structure of Comerio Ercole SpA a Socio Unico, with a share capital of €2.2 million, and is coordinated by Comerio 1885 Holding Srl SB. Its machinery serves customers in the polymer and rubber processing industries globally, and the firm maintains its headquarters at Via Castellanza 100 in Busto Arsizio, northern Italy.

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South Korea’s Nexen Tire, a leading tyre manufacturer, has won the 2025 Red Dot Design Award in the Product Design Category.

The judges appreciated the company’s winter tyre – Winguard Sport 3’s performance-driven design that was tailored for extreme winter conditions. The company shared that the Winguard Sport 3 takes inspiration from bird wings, the V-shaped tread pattern enhances traction and steering control on snowy roads. It uses a specially formulated compound that provides flexibility even at low temperatures, maintaining grip and offering reliable performance in harsh winter climates.

The sidewall features dynamic graphics and a snowflake emblem to combine sporty aesthetics with seasonal identity.

The Red Dot Design Award is organised by the Design Zentrum Nordrhein Westfalen in Germany, evaluates entries based on innovation, functionality, durability and overall design excellence. This also marks the second consecutive year for Nexen to win a Red Dot recognition.

The tyre is expected to be launched in Europe during the winter of 2025.

John Bosco (Hyeon Suk) Kim, CEO, Nexen Tire, said, “This award is a testament to Nexen Tire’s evolution as a brand that combines technological sophistication with strong design capabilities. We will continue to introduce products that balance driving performance with aesthetic appeal, delivering differentiated brand value in the global market.”

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