10 April 2012 23:22 [Source: ICIS news]
HOUSTON (ICIS)--Michelin announced plans on Tuesday to construct an earthmover tyre manufacturing plant in Anderson County, South Carolina.
Along with the new plant will be the expansion of an existing earthmover tyre manufacturing facility in nearby Lexington, South Carolina.
The $750m (€570m) investment for the two plants is the result of an increased demand forgiant, off-the-road large tyres, which for Michelin grew by more than 20% between 2009 and 2011.
The tyres are made of a combination of chemicals including natural and synthetic rubber, and can measure up to 63 inches in inner diameter.
“Nearly every earthmover tyre is sold before it is produced,” said Michelin North America’s chairman and president, Pete Selleck.
The expansion in Lexington will enable the company to begin production there in October.
The new plant in Anderson County will start producing tyres by late 2013, the company said.
The new plant will be next to the company’s existing rubber processing plant in Starr, South Carolina, and will be the third Michelin plant in Anderson County. The company also operates a 2.5m square foot rubber processing plant in Sandy Springs, South Carolina, and according to the company is the largest in the world.
Michelin is headquartered in France and is one of the world's largest tyre makers.
($1 = €0.76)
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