Michelin announced the signing of an agreement with Russian tire distributor Power International Tires LLC for the purchase of its two local companies, Michelin Russia Tyre Manufacturing Company (MRTMC) LLC and Camso CIS LLC.

The sale marks a major step in the Michelin’s history, with the Group having a presence in the country since 1997. Prior to this move, the tiremaker suspended its industrial activities in Russia on March 15, 2022, following the start of the conflict in the Ukraine.

This agreement will allow for saving 250 jobs, mainly based in Davydovo, according to Michelin.