TRES CANTO, Spain (Feb. 4, 2003) — Group Michelin, seeking to enhance productivity in its European operations, will make several manufacturing changes in its Neumaticos Michelin S.A. operations that will result in the reduction in Spain of about 400 jobs a year for the next three years.
The restructuring includes steadily converting the capacity at the plant in Valladolid to larger-sized agricultural tires at the expense of smaller farm tires and passenger tires. Michelin said it also plans to phase out a wheel factory in Aranda de Duero over the coming two to three years, consolidating production at plants in Germany and France.
The job reductions will be achieved through early retirement and redeployment, the terms of which will be negotiated with the works councils concerned, Michelin said. The company did not quantify the savings it expects to achieve by cutting 1,200 jobs.