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Michelin Colombia subsidiary shuts down

Thursday, June 13, 2013

Colombian tyre company Icollantas, subsidiary of Michelin, closed down due to bad financial results over the last years.

Michelin, who acquired Icollantas in 1998, announced the closure of its Bogotá and Cali factories.

Michelin said the main reason for the problem was low profitability in the country.

Source (in Spanish): Portafolio