The French tire manufacturer Michelin Group issued a press communique on the 10th that in order to increase the production capacity of large tires used in construction equipment, the group plans to invest 750 million U.S. dollars to establish a new plant in Anderson County, South Carolina, USA, and will be located in the state. Lexington's factory was expanded.
The communique said that the construction of the new plant will begin within a few weeks and it is expected to be completed and put into operation by the end of 2013. Large radial tires will be produced in North America and other parts of the world. The new plant will become the 9th in North Carolina and the 19th in North America. The investment project will add 500 jobs to the local area. At present, Michelin's factory in Anderson County produces semi-finished products mainly for other plants in North America.
Michelin partner Jean-Dominique Senar said that Michelin wants to maintain and strengthen its traditional advantages, especially in the manufacturing of large radial tires. From 2009 to 2011, the global demand for radial tires increased by more than 20%. This new factory and other established factories will help Michelin meet the growing market demand while achieving the Group's 2015 profit target.
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