Michelin to Downsize in Hungary

BusinessEconomy ♦ Published: May 9, 2014; 11:50 ♦ (Vindobona)

French tyre producer Michelin announced to shut down ist tyre plant in Budapest and relocate to Romania.

Industrial production of Michelin will be relocated from Hungary. / Picture: © Vindobona.org

Part of the production will be relocated Michelin said in a statement on Tuesday. "The Budapest plant's production will be mainly reallocated to the Michelin facilities in Olsztyn (Poland), Zalau (Romania), Karlsruhe and Homburg (Germany)," the French tyre producer said.

According to Michelin the step was taken because the plant cannot be extended any further because of the urban…