Automotive News / March 22, 2004
Michelin Group of France paid $200 million in March 2001 for 70 percent of Shanghai Tire & Rubber, China’s largest maker of car tires. The deal gave Michelin ownership of China’s best-selling Warrior brand and a modern factory.
Passenger-car sales in China have soared since then, hitting 2 million in 2003.
To meet the demand, Michelin is expanding the plant’s capacity, though it declined to give details.
When the expansion is completed in three or four years, the Shanghai…