Michelin sells business in Russia to Power International-Tires

MOSCOW, May 26 (PRIME) -- French tire producer Michelin has sold its business in Russia to Russian tires distributor Power International-Tires, the company said in a statement on Friday.

“After suspending its industrial activities in Russia on March 15, 2022, following the start of the conflict in the Ukraine, Michelin is today announcing the signature of an agreement with Power International Tires LLC for the purchase of its two local companies, Michelin Russia Tyre Manufacturing Company LLC and Camso CIS LLC,” the statement read.

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