Michelin-brand passenger and light truck tyres are being made in Mexico for the first time.
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The company said strong demand in Mexico was behind its decision to upgrade production capacity at the Queretaro plant to add the brand to the mix.
“In the past three years, Michelin’s replacement tyre sales in Mexico have jumped more than 60%, outpacing the market more than six times,” said Michelin North America chief Jim Micali.
“Mexico is one of the top 10 tyre markets in the world, growing at almost twice the rate of the US market. It is crucial for us to have in-country production to meet the phenomenal demand in Mexico and to increase our total North American capacity for Michelin brand’s high-quality tyres.”
Mexican demand for Michelin tyres is growing in other tyre segments as well. Two months ago, the company announced the construction of a new plant in Queretaro, adjacent to the passenger car tyre facility, that will produce tread rubber for retreading commercial truck tyres. This new facility will open in spring 2007 and bring 120 additional jobs to the city. Currently, Michelin’s growing work force in Mexico represents approximately 5% of its North American total.
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By GlobalData
