Aug 14, 2007

Michelin to build second tire plant in Mexico

Mexico City, Mexico – Michelin North America has announced plans for a new passenger car and light truck tire manufacturing plant in the state of Guanajuato, Mexico. The plant will build Michelin brand tires, including SUV and high-performance tires; construction is expected to begin in late 2008, with production commencing in 2010.

Michelin plans an investment of up to US$740 million in the new plant through the end of 2014, with employment expected to reach 1,300 people at full capacity. The plant will support North American sales.

“We are pleased to announce our plans to expand in Mexico, the fastest-growing tire market in North America, where Michelin has experienced considerable success,” says Jim Micali, chairman and president of Michelin North America. “We are grateful to the government of Mexico and the state of Guanajuato for their extraordinary support as we make this investment.”

The investment is based on finalizing appropriate agreements with federal and state governments. Michelin’s Mexican operations also include its Michelin North America (Mexico) Inc. headquarters, a passenger car and light truck plant that opened in 2005, and a tread pressing plant for the commercial truck retreading market, which opened in June 2007.

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