Michelin Finalizes Sale of Bias Tires and Tracks Business to Strengthen Financial Performance

Michelin Finalizes Sale of Bias Tires and Tracks Business to Strengthen Financial Performance

Clermont-Ferrand, September 1, 2025 — Michelin has completed the sale of its bias tires and tracks for compact construction equipment segment, fulfilling the plans announced in December 2024 upon securing all necessary regulatory approvals.

This divestiture includes two Sri Lanka-based facilities—the Midigama Tyre Division and Casting Product Division. These plants specialized in bias tires and tracks for compact construction equipment. Additionally, the Camso brand, related to these products, will be sold following a three-year licensing period.

This move aligns with Michelin’s “Michelin in Motion 2030” sustainable growth strategy, which emphasizes focusing resources on areas where the company’s technological innovations deliver the highest value. As part of this transition, Michelin also intends to end production of bias tires for compact equipment at its Olsztyn plant in Poland by the end of 2025. However, the Group will continue to supply its advanced radial technology tires and provide tracks for other off-road markets.

The divestment and phased discontinuation represent about 3% of Michelin’s third Reporting Segment (RS3) net sales in 2024. This strategic shift aims to enhance the financial performance of the segment and optimize the Group’s investment analysis and long-term strategy for investing in innovation.

This content is for informational purposes only and does not constitute financial advice.