Michelin Further Diversifies via Non-Tire Acquisition
The Michelin Group has acquired 100% of AirCaptif, a France-based start-up that develops ultra-light inflatable structures "for protection and insulation," according to Michelin officials.
"These solutions, which are simple to use and 10 times lighter than steel, opt for a single inflation point for quick and simplified implementation. They find applications in fields as varied as aeronautics, medicine, construction and even leisure."
The acquisition is part of the company's "Michelin In Motion" initiative, announced this past April, that calls for up to 30% of the company's total revenue to "come from activities related to and beyond the tire.
"To achieve this, the group aims to grow in five areas: services and solutions, sustainable flexible composites, metal 3D printing, hydrogen mobility and materials for regenerative medicine."
AirCaptif will help Michelin reach its goals "for growth beyond the tire."
Alexis Garcin, chairman and president of Michelin North America Inc., discusses "Michelin In Motion" in this exclusive MTD interview from May 2021.