LEXINGTON, S.C. (Dec. 15)—Michelin North America Inc. plans to invest $85 million during the next five years at its earthmover tire plant in Lexington to boost production nearly 50 percent.
The company said it will add about 70 jobs at the site by 2010 because of the expansion. The project will serve demand for Michelin's 57- to 63-inch radial earthmover tires for surface mining equipment.
"Demand for Michelin's radial earthmover tires is breaking every record," said Prashant Prabhu, head of Michelin Earthmover Tire worldwide. "This expansion increases our capacity for large surface mining tires by almost 50 percent at Lexington and allows us to better serve our customers by adding new capacity as quickly as possible."
The expansion gives the firm the ability to add future growth to respond quickly to market demand, Michelin said. A potential second phase could increase the plant's production over the next several years, the firm said.