ECONOMY

Michelin’s Greek subsidiary to cease operations

French tyremaker Michelin on Wednesday announced that its Greek subsidiary was closing down following 34 years of operation.

In a statement forwarded to the company’s local associates, the company noted that the Greek subsidiary’s activities would be passed onto its Romanian unit. The French company’s Greek branch was established in 1950.

The company noted that the move was part of a commercial and management overhaul in central and southern Europe.