Thailand Investment By Michelin

Michelin Siam Group announced a major investment to increase the tyre prodction capacity at its factory in Laem Chabang. Mr. Chalaluck Bunnag, President, Siam Tyre Plc.

, a subsidiary of the Siam Cement Group, announces that the total amount of the investment will be approximately 3.82 billion Baht (about USD 100 million). This investment will more than double the current capacity of the existing facility at Laem Chabang to approximately 6.

1 million tyres per year and will create up to 600 new jobs when fully operational. Construction will begin in the middle of this year. Chalaluck further announces that the tyres produced will be Michelin brand, for cars & light trucks.

They are intended for the Thailand market to meet increased demand from car manufacturers as well as to satisfy local replacement demand for high performance tyres. Eventually, a significant percentage of these tyres will be exported to the Asia-Pacific region. Mr.

Jerome Monsaingeon, President of Michelin Siam Group Co., Ltd. said that Michelin has chosen Thailand as the location for this increase in regional capacity because of its very competitive costs and the high quality of its production.

It also shows the mutual confidence that Michelin and Siam Cement have developed in working closely together over the last 12 years. Michelin Siam Group Co., Ltd.

is a joint-venture partnership between The Siam Cement Group and The Michelin Group that started in 1987. It manufactures tyres and components under the Michelin brand and other associated brands for export in the Asian area. The product range includes tyres for motocycles, passenger cars, light trucks, heavy duty trucks, and aircraft tyres for many airlines around the world.