Michelin completes the divestment of its bias tires and tracks for compact construction equipment activities
Clermont-Ferrand, September 1st, 2025
COMPAGNIE GÉNÉRALE DES ÉTABLISSEMENTS MICHELIN
Michelin completes the divestment of its bias tires and tracks for compact construction equipment activities
Michelin today completed the sale in accordance with the terms announced on December 6, 2024, after obtaining all the necessary approvals for the transaction.
This program includes two plants, Midigama Tyre Division and Casting Product Division, both based in Sri Lanka and dedicated to the bias tires and tracks for compact construction equipment, as well as the Camso brand, which will be sold at the end of a three-year licensing period.
The decision is aligned with the Michelin in Motion 2030 sustainable growth strategy, which focuses the Group’s efforts where its innovations and technologies are the most valued. At the same time, the Michelin Group has planned to discontinue production of bias tires for the same equipment at its Olsztyn plant in Poland by the end of 2025. The Group will continue to offer its radial technology tires on the relevant market and its tracks for other beyond-road markets.
The divestment and discontinuation of these activities, which accounted for around 3% of the Group's third Reporting Segment (RS3) net sales in 2024, will help strengthen the financial performance of the Segment.
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