Reports: Michelin to Relocate, Expand China Plant
Michelin is seeking Chinese government approval to relocate its Shenyang plant to a larger site to allow for capacity expansion, according to a China Daily report. "We have to relocate the Shenyang factory for a really big capacity expansion in both truck and bus tyres as well as passenger car tyres, considering the growing demand in China's automobile market," Michelin managing general partner Michel Rollier is quoted as saying.
A day after senior Michelin executives spoke of renewing their emphasis on emerging markets, the newspaper also quoted Rollier as saying: “The project will be Michelin’s biggest.” China Daily reported that the relocation and expansion investment would be around $1.5 billion, and would add one million truck/bus units to its current 800,000-tyre annual capacity and double passenger ttre production to 10 million units annually. The project will also include the retreading of 295,000 truck and bus tyres every year, the newspaper said.