PARIS (Oct. 6)—Groupe Michelin has acquired an option on real estate adjacent to its Stomil-Olsztyn S.A. tire plant in Olsztyn, Poland, fueling speculation the tire maker is planning to add capacity to the factory or build a facility there.
Michelin indicated in documents presented at the recent Paris Auto Salon that it has budgeted more than $275 million for some type of project in Poland and/or Hungary. A Michelin spokeswoman declined to comment specifically on the company's intentions for the acquired land, saying only that the firm studies many projects on an ongoing basis.
Media reports in Poland and Hungary said Michelin was in negotiations with government officials in both countries about building a tire plant. Polish media reported Olsztyn City officials had made legal provisions to facilitate the implementation of a project.
Michelin also has budgeted more than $60 million for a capacity expansion in Romania this year and next, according to the documents.