Michelin Retread's first Mexican franchisee begins operations

MEXICO CITY (May 2)—Michelin Retread Technologies Inc.'s first franchisee in Mexico has started operations at a plant in Queretaro. Industrias Michelin S.A. de C.V., a Michelin North America Inc. operating unit in Mexico City, granted the franchise late last year to Multillantas Nieto S.A. de C.V., which started operations just before year-end. Michelin did not disclose any further information about the franchisee or the shop, but General Director Jose Ramon de la Torre was quoted in Mexican media saying Multillantas Nieto invested $2 million in the plant, which is rated at 120 tires a day.