CLERMONT-FERRAND, France-Groupe Michelin plans to eliminate 1,170 more jobs at plants in France over the next 18 months and close a tire machinery making plant in Roubaix by the end of this year, the firm announced June 14. The job cuts represent between 4 and 5 percent of Michelin's French workforce and will come primarily from plants in Bourges, Tours and Clermont-Ferrand, the firm's oldest, along with a warehouse operation in Gueret and the Roubaix plant.
This latest announcement is in addition to 10,000 jobs cuts announced for 1993-94, half of which were at French facilities.
RETREADER EXPANDS, PLANS IPO
BURTON-ON-TRENT, England-Technics Group plc, which specializes in producing high performance (up to V-rated) passenger retreads, is building a new $2 million retread plant, its third, and is considering a public stock offering.
Technics, with current production of more than 50,000 units per week, expects the new plant to be on stream early in 1995.
The stock offering might take place in 12 to 18 months, according to group CEO Peter Webber, likely raising about $50 million, at least some of which would be used for expansion.