Michelin pumps €22.5 m into Nova Scotia steel cord plant

Bridgewater, Canada -- Michelin North America (Canada) Inc. will spend $28.9 million (€22.5 million) in the next two years to expand steel cord manufacturing capacity at its Bridgewater plant in Nova Scotia, Canada.

The tyre giant will also use the funds to increase manufacturing capacity of truck and earthmover tyres at its plants in Waterville, Nova Scotia, and Lexington, South Carolina.

The province of Nova Scotia will contribute $4 million toward the project, which will aim to expand capacity by 11 percent at the 35-year-old Bridgewater plant and create about 36 new jobs, Michelin said.

The project will require expanding the plant by about 93 600 square feet (8695 square metres) and modernising the cabling process machinery.

This investment is in addition to $80 million the company is spending at the Waterville facility to expand production of its X One wide truck tyres.

Michelin said a key driver for the investment in Bridgewater was the growing demand for its earthmover and truck tyres.

Nova Scotia Premier Rodney MacDonald called the announcement “exciting news” for the town and the province.

“Attracting continued investment from global companies like Michelin is a key factor to building a prosperous economy and providing stable, long-term employment in our local communities,” MacDonald said.

“This investment supports our commitment to the success of our advanced manufacturing industry in rural Nova Scotia.”

Michelin employs about 3500 people in Nova Scotia, making it the third largest private sector employer, the company said.

From Tire Business (A Crain publication)