July 6, 2007
Michelin and Nova Scotia to invest $50 million in Bridgewater tire plant
Bridgewater, Nova Scotia – Michelin has announced a $50 million project to modernize and increase tire production capacity at the company’s plant in Bridgewater, Nova Scotia. Michelin will invest $44 million, with the province investing up to $6 million toward the expansion.
“This is a great day for Bridgewater and for Nova Scotia,” says Premier Rodney MacDonald. “Companies such as Michelin recognize that an investment in Nova Scotia is a smart investment. They are helping us build a new Nova Scotia. This government will continue to support companies that believe in our ability to deliver in a globally competitive economy and who provide good-paying, long-term employment to Nova Scotians.”
The expansion will enable the plant to produce complex tire designs, and deliver larger-dimension tires for passenger and light trucks. The project is due to be completed in 2009, and new jobs will be phased in as the project progresses.
The province’s investment is being provided by the Industrial Expansion Fund; as part of the expansion, Michelin will be adding new equipment and expanding capacity. The facility, which opened in 1971, produces steel cord products and tires for cars, light trucks and SUVs.