French tyre maker Michelin sells its activities in Russia

French tyre maker Michelin said it was selling its Russia Tyre Manufacturing Company and Camso CIS in Russia to Power International Tires, a tyre distributor in the country. The deal will keep 250 jobs, mainly based at Michelin's sole Russian plant in Davydovo. Michelin said those employees who wished to leave would be allowed to do so "under good conditions".