Michelin buys land in Poland
Olsztyn Poland--Michelin has today signed a contract to buy some land adjacent to its factory in Olsztyn, Poland. According to a Michelin spokeswoman, this is a necessary precursor to a potential future investment in further capacity. Contrary to media reports in Poland, it does not mean Michelin has decided to build a new factory on the land.
The spokeswoman said Michelin is at an advanced stage of planning a future plant in the region, with a total investment of around Euro 250 million, but the company has not yet finally decided on the location of that plant. She said reports concerning the total investment and the location of the plant in the Polish business press had inferred more from the acquisition of land than was really the case.
Persistent rumours from Poland have suggested that Michelin is choosing between Olsztyn and Hungary's Nyiregyhaza, but the Michelin spokeswoman declined to commment on the rumours.
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Warsaw Business Journal (Poland) story
Website of Michelin