November 15, 2023
French tire maker Michelin plans to wind down tire production at its Ardmore site in Oklahoma in 2025, which will result in 1,400 layoffs.
The decision to wind down tire-making operations at Ardmore is linked to North American market’s shifting needs and transformations, and the site not being equipped to deliver tires at competitive costs to meet these market demands, the company said in a statement.
The first wave of staffing reductions at the Ardmore plant, which has produced passenger tires since 1970, is expected to occur mid-2024, with the rest of the job cuts through 2025 as operations taper.
Tire production will gradually shift to its other passenger-tire plants in North America, while rubber-mixing operations at the Ardmore factory are expected to continue, the company said.
Passenger tires have been produced at the Ardmore site since 1970.
Michelin raised its forecast earlier this week for full-year free cash flow before acquisitions to 2.3 billion euros ($2.4 billion), from 2 billion euros, citing lower volume and costs.
Perhaps the company will keep to other vehicles for production.
Lilium developed the first all-electric vertical take-off and landing ("eVTOL") jet.
Also last week, the tire manufacturer introduced three new motorcycle tires at EICMA tradeshow.
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