Michelin factory closure: Briefing document handed to Ballymena staff
Michelin has blamed a number of factors for its decision to close its Northern Ireland operations.
In a briefing document given to staff at Tuesday's meeting, and seen by the Belfast Telegraph, the tyre manufacturer says a slump in sales between 2007 and 2014 coupled with cheap imports meant the company had too many of the heavy weight tyres produced in Ballymena.
It also said its other European plants were more competitive, significant investment was needed at Ballymena.
"It does not make financial sense for the company to invest at a time when there is overcapacity," the document signed by factory manager John Milsted said.
The briefing also said the Ballymena factory's location put it at a "disadvantage" for transportation of raw materials and finished products compared to other facilities in central Europe.
Staff were informed a full consultation would take place with each staff member meeting with their line managers over the coming months.
Michelin has 112,300 employees worldwide and produces over 178 million tires in 68 sites in 17 countries.
As part of the company's reorganisation it is investing £65m in its Dundee and Stoke-on-Trent operations.
Michelin said it aimed to provide Ballymena staff with opportunities at its other locations, if they were interested.
Belfast Telegraph Digital