Continental and Michelin sell Russian operations
By Luke Willetts - 13th June 2023
Russia / Germany / France – In reaction to the continuing conflict in Ukraine, both Continental AG of Hanover, Germany and the Michelin Group of Clermont-Ferrand, France, have announced that they have sold different parts of their tyre operations in Russia.
Continental has sold its Kaluga plant in Russia to S8 Capital. The facility was predominately used to produce air conditioning technologies, power steering lines and passenger car tyres. The company has now divested most of its activities in the country as part of a “controlled withdrawal from the Russian market”. Whilst the sale has gained regulatory approval, the actual sales figures have remained undisclosed.
