Michelin to gain €46m a year from Dundee closure

London – Groupe Michelin expects to achieve £40 million (€46 million) annually in productivity gains through the closure of its Dundee, Scotland plant, scheduled for mid-2020.

In a 14-Nov presentation at a UBS conference in London, the French tire maker said the planned closure, would incur a £140-million non-recurring cost in 2018 and £50 million “cash outs” during 2019 and 2020.

Productivity gains would start with £20 million in 2020 and increase to an annual…

To read more,please login or register below.

This is the first step to more free
content, user offers, subscriptions
and more.
Log in here using the Email Address
and Password you signed up with