OREANDA-NEWS  The deal on the sale of the Russian assets of the French Michelin plant in Davydov near Moscow is close to completion, the buyer is the distributor of tires of this and other brands, Power International Tires, writes Kommersant with reference to interlocutors familiar with the situation. The plant has been idle since March 2022, its restart will take up to a year, experts say.

Michelin told the newspaper that the owner is considering a possible sale of assets in Russia, but declined to comment on a possible buyer and the prospects of the site in the Moscow region. Power International Tires did not respond to the request. In the summer of 2022, the French tire manufacturer Michelin estimated its losses from the suspension of operations in Russia at €202 million. In the middle of March last year, the company suspended its activities in the country.

At the end of June, she said that it was "technically impossible" to resume production. At the same time, the company announced its decision to sell Russian assets to local top management. The company employed 1,000 employees in Russia, including 750 at the Davydovo plant. Dmitry Molokanov, the head of Michelin's Russian office, spoke in the summer about the task of "studying scenarios for the autonomous operation of the tire production plant and restarting the production of tires of other brands in Davydovo."