Michelin said this week it would gradually wind down production at its Karlsruhe and Trier sites in Germany as well as the new tyre and semi finished products manufacturing in Homburg.

It would also transfer its customer contact centre from Karlsruhe to Poland, the tyre maker said in a statement.

A total of 1,532 employees are affected by the restructuring intended to be completed by the end of 2025.

"This decision is linked to the growing competition [from] budget truck tyres and the lack of competitiveness of our German operations for our European and export markets," the tyre maker said.

It would record a provision of around EUR425m in its consolidated financial results for full year 2023.

The official announcement confirmed earlier media reports.