Michelin buffs away loss-making Laurent pre-cure business in Germany

28th October 2014 | 0 Comments
 
Michelin buffs away loss-making Laurent pre-cure business in Germany
Michelin intends to dispense with its Laurent Reifen transport fleet and pre-cure retreading operation; following substantial losses in recent years, a quarter of the workforce now face layoffs

Weak demand and aggressive competition has led to seven-figure losses at the Laurent Reifen retreading plant in Germany, and in response the Michelin-owned company has decided to close its pre-cure retreading operations and lay off almost a quarter of its workforce. But it is questionable whether this measure will suffice to halt the flow of red ink required to write the firm’s balance sheet in recent years; apparently the complete closure of the Laurent Reifen site near Berlin has already been internally discussed.

The rest of this article is for subscribers only:
Log inSubscribe

Tags: , , , , , , ,

Category: Company News, International News, Premium

Buy subscriptions, premium industry reports, and business directory entries in our shop. | Dismiss

[ + ]