Michelin to Spend $300 Million in Nova Scotia Plants
Michelin yesterday announced a $302 million investment into its Canadian operations to accelerate sustainable mobility and improve its environmental footprint.
More specifically, the tire manufacturer will implement new technologies and equipment at its three production facilities in Nova Scotia. This includes manufacturing tires for the growing electric vehicle segment, larger rim size tires for passenger and light trucks, as well as improved fuel efficiency for commercial trucks.
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A key part of the multi-year plan is the $140 million expansion of Michelin’s Bridgewater plant, which will add more than 70 new positions.
In addition, the electrification of strategic parts of the manufacturing process will reduce carbon emissions at the three plants.
“Michelin is committed to developing the mobility of goods and people and doing so in a cleaner and more sustainable way,” said Alexis Garcin, president and CEO of Michelin North America, Inc. “With these investments, we will do exactly that: continue to add capacity in the most strategic segments of the tire market to support the transition to electric vehicles and to energy efficient freight transportation, while further reducing the environmental footprint of our products and our plants.”
Canadian Prime Minister Justin Trudeau and Minister of Innovation, Science and Industry François-Philippe Champagne were on hand for Michelin’s announcement, along with Nova Scotia Premier Tim Houston.
“We are proud to partner with Michelin on a project that will support Canada’s advancement in the transportation sector and keep Canada on the cutting edge of the clean economy,” said Champagne. “With this investment, we are continuing to build a strong auto sector ecosystem by supporting the development of clean technology in the tire industry, creating well-paying jobs and generating economic benefits for Nova Scotians.”
The Government of Canada, through the Strategic Innovation Fund, is contributing up to $44.3 million in federal funding toward Michelin’s expansion, pending a final agreement.
The manufacturer will also receive a tax credit of about $61.3 million over five years from Nova Scotia.