Michelin clarifies Poland situation: investments already in place

Olsztyn, Poland -- Michelin has clarified press reports from Poland suggesting that the French company plans large investments there. A Michelin spokesman said the company has invested over Euro260 million in the plant since the company acquired it in 1995. A speech at a ceremony to mark 40 years of tyre production in Olsztyn reviewed progress over the last 12 years and these numbers were mentioned. Local media mis-reported the information as future investments in logistics and tyre production.

In March 2005, Michelin said it would spend Euro253 million over three years to increase capacity for car and light truck tyres. The company said the project would add 520 jobs at the plant and will bring production up to around 3 million units per year, with the first tyres from the new facility coming off the lines in March 2006.

Michelin currently employs about 3800 at the Olsztyn factory which makes car, light truck, heavy truck, agricultural and industrial tyres.

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Michelin Poland builds $366M tire plant UPI (Poland)

Michelin to create 1000 new jobs in Olsztyn in northern Poland The News.pl (Poland)