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Michelin plans to build plant in Brazil

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Groupe Michelin executives in South America confirmed the company is in negotiations to build a new tire plant in Brazil.

Although Michelin had no further comments about the project, the governor of Rio de Janeiro announced to the press the company's intention to build a second facility in his city. The plant reportedly would have the capacity to produce 1.5 million tires per year, the same as the existing plant.

Earlier this year, Michelin put plans to build a tire plant in India on hold.

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