Michelin to invest in 2 rubber processing plants
ANDERSON, S.C.-Michelin North America Inc. plans to invest $80 million over six years in two rubber materials plants in South Carolina to upgrade equipment and expand capacity.
The investment was made public Nov. 15 at an Anderson County Council meeting, where the panel approved extending a tax agreement and infrastructure credit, first instituted in 1996, through 2017.
The investment will be in the firm's Sandy Springs semi-finished products plant and Starr rubber compounding factory. Michelin plans to explain in more detail its expansion plans Nov. 28 at a news conference at the Starr site.
According to documents presented to the county council, the expansion/upgrade will create about 26 jobs, although a Michelin spokesman declined to confirm the exact number.
The 25,000-sq.-ft. Starr plant opened in 2001 at a cost of about $90 million. The 2.25 million-sq.-ft. Sandy Springs facility also houses rubber processing operations and until recently was the site of steel cord processing.
Titan, Goodyear extend farm tire unit sale deadline
QUINCY, Ill.-Titan International Inc. and Goodyear have extended the deadline to Dec. 1 to close on the sale of Goodyear's farm tire unit.
The $100 million deal includes Goodyear's Freeport, Ill., farm tire plant, where Titan must reach collective bargaining agreements with the United Steelworkers union prior to purchasing Goodyear's farm tire business. The two tire firms announced the sale in February, but have extended the deadline several times.