Michelin earmarks $56 million for Oklahoma tire plant
Michelin North America Inc. announced it will upgrade equipment at its Ardmore, Okla., tire manufacturing facility. The capital investment plan will total $56 million.
Ardmore manufactures an estimated 32,000 BFGoodrich and Uniroyal passenger tire a day, according to Modern Tire Dealer's 2002 Facts Issue. The investment will enable the facility to manufacture Michelin brand tires as well.
The first phase of the project will begin this year and is scheduled for completion in 2003. The initial $10 million investment will be complemented by an additional $2.7 million earmarked for a single piece of tire building equipment.
Three remaining phases of the plan will be carried out as market demands dictate, according to the company. Capital investment at Ardmore is expected to exceed $13 million in 2002.
The new investment plan follows an $18.2 million investment in 2001 and a $21.5 million investment in 2000.
"Michelin, like any business, invests its dollars in plants that are productive, cost efficient and flexible,” said Gary Scheide, plant manager. “The Ardmore plant has shown that it is willing to change and adapt as we move forward in the best interest of all involved. That’s why Michelin North America is investing here.”