Michelin increases tire production in China and India
(chinatrucks.com, Feb.05, 2010)Michelin is preparing for the future in China. These countries currently export a large percentage of all tire production. The US has placed large (30%) duties on all passenger and light truck tires produced in China. This duty will be reduced by 5% each year for two years and eliminated altogether after three years. The future Michelin tire plant will not be producing tires until the duties are gone. There is some indication that the duties will be reduced or eliminated earlier.
Michelin's investment is more focused on the tire usage in China, anyway. They don't plan to export any of the tires produced in China to the US. The announcement follows on the heels of Michelin purchasing the remaining interest in "Shanghai Michelin Warrior" tire from Double Coin, a large manufacturer of tires in China, for the same reasons. The new plant will produce 25,000 or more new passenger and truck tires every day.
Michelin is also increasing its investment in India. It has already purchased the land and will begin production within two years. These tires are expected to stay in the region, too. The plant will only build truck tires (not light truck) and OTR (Earthmover) tires.
Michelin expects the growing economies of these two countries to consume more quality radial tires.
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