Tire maker Michelin suspends Russian operations

French tire maker Michelin is suspending operations in Russia and exports to the country, becoming the latest in a list of companies to halt activities there.

The industrial company’s Davydovo plant employs about 750 people and manufactures passenger car tires and retreaded truck tires, mainly for the local market, according to a statement Tuesday.

“The group remains fully mobilized and will continue to adapt its decisions as the situation evolves,” the statement said.

The manufacturer follows a host of firms—from food and credit card companies to automakers and fashion companies—to pull out of Russia following President Vladimir Putin’s invasion of Ukraine.

Michelin last month warned 2022 would be just as much of a struggle as last year in terms of sourcing supplies due to severe bottlenecks in supply chains and transportation routes.