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Michelin will build consumer tire plant in Mexico

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Michelin North America Inc. (MNA) plans to build a new passenger and light truck tire manufacturing plant in Guanajuato, Mexico. Construction is expected to begin in late 2008 with production starting in 2010.

The facility represents an investment of up to $740 million through the end of 2014, say Michelin officials. Production goals have not been disclosed.

MNA Chairman and President Jim Micali calls Mexico "the fastest-growing market in North America, where Michelin has experienced considerable success."

The new plant will complement Michelin's other operations in Mexico, including Michelin North America (Mexico) Inc. headquarters in Queretaro, Mexico, plus a consumer tire plant and a Michelin Retread Technologies Inc. tread rubber plant, also in Queretaro.

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