August 30, 2006

Michelin and Nova Scotia to invest in Bridgewater facility

Bridgewater, Nova Scotia – The province of Nova Scotia and Michelin North America (Canada) Inc. have announced a $36 million project to expand and modernize the steel cord products operation at Michelin’s Bridgewater facility. The expansion, due to be completed in 2008, will increase the facility’s production of steel cable, used in the production of earthmover and truck tires.

Michelin is investing $32 million, while the province will invest up to $4.38 million. Production will increase by 11 per cent to supply plant expansions at Michelin’s facilities in Waterville, Nova Scotia and Lexington, South Carolina. The provincial funding is from the Industrial Expansion Fund, which is used to help establish, develop or expand industries in the province. Michelin plans to include an addition of about 8,700 square metres, modernize machinery, and add technical and manufacturing employees. The facility opened in 1971, producing steel cord product; two years later, it also began producing passenger tires.

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