Michelin Spain chief warns no plant has guaranteed future beyond 10 years

César Moñux, Michelin's top executive for Spain and Portugal, stated that no Michelin plant has a guaranteed future for more than a decade, citing reliance on production assignments and investments while European headquarters have flagged absenteeism issues. This signals potential restructuring risk for Spanish operations, though no specific closures are announced. The statement reflects broader competitive pressures on European manufacturing.