Michelin added that the factory is working at 70% of capacity, and would need modernisation in order to be competitive.

The company stressed that it will continue to produce car tyres in Nyíregyháza, and maintain its logistics centre in Vác, as well as its trading unit in Tuzsér, northeast Hungary.

Michelin will enter into talks with unions on the future of the 512 workers at the Budapest factory.

Source: Hungary Around the Clock

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