PARIS (April 11)—Groupe Michelin will spend about $200 million through mid-2007 to build a plant for earthmover tires in Brazil to serve customers in South and North America.
Michelin said the project, due on stream by the second half of 2007, is in response to growing demand for earthmover tires. The facility will be built in Campo Grande, on a plot of land adjacent to Michelin's existing heavy truck tire factory.
The plant initially will have annual capacity of 40,000 metric tons, rising eventually to 55,000 tons, and employ up to 400 workers. The facility will be capable of producing tires with rim diameters of 25 to 49 inches.
Michelin did not disclose the value of the project. It already is expanding capacity for earthmover tires at its factories in Lexington, S.C., and Vitoria, Spain.