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Michelin to strengthen its global leadership in Earthmover tires with the construction of a new plant and the extension of another in North America

(Clermont-Ferrand - April 10, 2012) - Michelin today announced it will build a new Earthmover tire plant that will help to strengthen its world leadership in the radial Earthmover tire segment.

 

The Group will build a new Earthmover tire plant in North America on its current site in Anderson, South Carolina. The new facility will manufacture giant-off-the-road radial tires for the North American market and other regions of the world. Construction of the new plant will begin within weeks, and the first tires will be produced in late 2013. The Michelin site in Anderson currently produces semi-finished products and rubber compounds for the Group's North American plants.

 

The Group also announced today that it is expanding its existing Earthmover tire facility in Lexington, South Carolina.

 

The two projects represent a $750 million investment (USD) and will create up to 500 new jobs.

 

 "Michelin intends to maintain and strengthen its leadership in all its specialty businesses, especially Earthmover radial tires," said Jean-Dominique Senard, Managing General Partner. "The market for radial Earthmover tires grew by more than 20% between 2009 and 2011. This new facility and the extension of the other will help us meet sustained demand while also attaining our growth objectives for 2015."

 

Michelin currently produces earthmover tires in seven plants located in North America (Lexington, South Carolina and in Canada), South America (Campo Grande in Rio de Janeiro State, Brazil) and Europe (Le Puy-en-Velay and Montceau, France; Vitoria, Spain; and Zalau, Romania).

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