Michelin Hungária

Type
Closure
Country
Hungary
Region
Közép-Magyarország; Budapest; Budapest
Location of affected unit(s)
Budapest
Sector
Manufacturing
(22 - 23) Manufacture of rubber, plastic and non-metallic minerals
22.1 - Manufacture of rubber products
22.11 - Manufacture, retreading and rebuilding of rubber tyres and manufacture of tubes
512 jobs
Number of planned job losses
Job loss
Announcement Date
6 May 2014
Employment effect (start)
1 June 2015
Foreseen end date

Description

By the middle of 2015, the plant of Michelin Hungaria in Budapest will be closed. According to Michelin, the reason is the outdating of the plant, and the shrinking market for truck tires. 512 jobs will be lost.

Sources

  • 6 May 2014: Napi
  • 6 May 2014: Michelin Hungária (Press Release)
  • 6 May 2014: BBJ

Citation

Eurofound (2014), Michelin Hungária, Closure in Hungary, factsheet number 76998, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76998.