U.S. markets close in 15 minutes

Michelin North America Begins Partial Production Shutdown In Response to COVID-19


GREENVILLE, S.C., March 20, 2020 /PRNewswire/ -- Michelin North America, Inc., will begin a temporary, phased shutdown of some of its tire production facilities in the United States and Canada due to the broad effects of COVID-19.

(PRNewsfoto/Michelin North America, Inc.)

This phased suspension of some manufacturing will begin immediately and, based on the current outlook, will last for at least two weeks. The affected production currently excludes vital and critical tires for the country's economic continuity.

Distribution and logistics activities will continue to support customers through existing inventories. The Company is monitoring conditions closely and has established appropriate contingency plans, prepared to adjust as the situation evolves.

Michelin remains focused on the health and well-being of its employees and communities, and the Company is developing plans and revising policies to mitigate the financial impacts of this temporary shutdown on its employees.

The Company will continue to follow closely all guidelines and directions from state, local or provincial governments, with the goal of limiting the spread of the virus and consequences of the pandemic for employees, customers and partners.

About Michelin North America

Dedicated to the improvement of sustainable mobility, Michelin designs, manufactures and sells tires for every type of vehicle, including airplanes, automobiles, bicycles, earthmovers, farm equipment, heavy-duty trucks and motorcycles. The Company has earned a long-standing reputation for building innovative premium tires.  In addition to tires, the Company also publishes travel guides, hotel and restaurant guides, maps and road atlases. Headquartered in Greenville, S.C., Michelin North America (www.michelinman.com) employs more than 20,000 people and operates 19 major manufacturing plants in the U.S. and Canada. Learn more about purpose-driven careers with a purpose-driven company at jobs.michelinman.com.

Cision

View original content to download multimedia:http://www.prnewswire.com/news-releases/michelin-north-america-begins-partial-production-shutdown-in-response-to-covid-19-301027728.html

SOURCE Michelin