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Investment will transform Nova Scotian plants to meet strategic business needs
Additional capacity for key segments of the market, including EV
Improved environmental footprint of manufacturing plants
Bridgewater, N.S., March 14, 2023 — Michelin, a leader in sustainability and innovation, today announced a $300 million CAD investment into its Canadian operations to accelerate sustainable mobility and improve its environmental footprint.
The investment, part of Michelin’s global growth strategy, will see the installation of new technologies and equipment in Michelin’s three Nova Scotia production facilities to respond to market evolution. This includes manufacturing tires for the growing electric vehicle (EV) segment; larger rim size tires for passenger and light truck vehicles; as well as improved fuel efficiency for commercial trucks. In addition, the electrification of key parts of the manufacturing process will reduce carbon emissions at the plants.
“Michelin is committed to developing the mobility of goods and people and doing so in a cleaner and more sustainable way,” said Alexis Garcin, president and CEO of Michelin North America, Inc. “With these investments, we will do exactly that: continue to add capacity in the most strategic segments of the tire market to support the transition to electric vehicles and to energy efficient freight transportation, while further reducing the environmental footprint of our products and our plants.”
“Companies understand the excellence of Canada’s workers and auto sector – and today’s announcement is a testament to that,” said the Rt. Hon. Justin Trudeau, Prime Minister of Canada. “Here in Nova Scotia, we are once again seeing that when we invest in our workers, we build communities and an economy that works for everyone, while leaving a stronger, healthier future for our kids.”
“Today’s announcement is great news for the future of Canada’s auto sector. We are proud to partner with Michelin on a project that will support Canada’s advancement in the transportation sector and keep Canada on the cutting edge of the clean economy,” said the Honourable François-Philippe Champagne, minister of Innovation, Science and Industry. “With this investment, we are continuing to build a strong auto sector ecosystem by supporting the development of clean technology in the tire industry, creating well-paying jobs and generating economic benefits for Nova Scotians.”
A key part of the multi-year plan is the $140 million CAD expansion of Michelin’s Bridgewater plant, which will add more than 70 new positions.
“We’re excited to continue to enhance and grow our operations in Canada,” said Andrew Mutch, president of Michelin North America (Canada) Inc. “We have a wonderful history of manufacturing tires here for more than 50 years, and I’m thrilled we can strengthen the competitiveness of our factories for our current and future workforce.”
“Nova Scotia is an amazing place to do business and Michelin’s decision to modernize and expand its operations here speaks volumes about our business environment,” said Nova Scotia Premier Tim Houston. “Michelin’s strong commitment to greening their operations aligns with our government’s plan for a clean and green economy, where the environment and Nova Scotians can thrive, and no one is left behind.”
This is the latest investment in recent years to help Michelin better serve its customers. In 2020, the company announced a $175 million USD investment in its South Carolina production facilities.
Source link : https://michelinmedia.com/pages/blog/detail/article/c/a1271/
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Publish date : 2023-03-14 03:00:00
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