Michelin Resumes Shanghai Tyre Production
Michelin has resumed production at its joint venture in Shanghai after halting operations to “clear its stock of unsold tyres,” reports news source Bloomberg.
The announcement follows several reports last week that stated the tyre factory would suspend production for months to come following a slowdown in sales in the Chinese market.
According to Bloomberg Michelin’s China spokeswoman Catherine Peng said the venture “is resuming its normal operation now.”
“Due to the slowdown of the automobile sector in china over the last few months and in order to adapt its production levels to market demands, the passenger car and light truck tyre plant held production for a few weeks in order to level out existing stock,” continued Ms Peng.