UPDATE 1-Michelin to close truck tyre plant in Budapest

Newswire

(Adds details, share price) PARIS, May 6 (Reuters) - French tyremaker Michelin plans to close its truck tyre plant in Budapest in response to adverse trends and aggressive competition in the European market. The move will lead to a 39 million euro ($54 million) provision for non-recurring expenses in its first-half accounts relating to the closure, Michelin said in a statement. "The decision reflects the fact that extending the facility is no ...

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