Michelin Russia to Treble Production

Jean-Yves Caux, managing director of Michelin’s Russian business has said that the company expects to treble its tyre production capacity by the end of 2005. The expansion plans are due to take place at the company’s Davydovo site, outside Moscow and will increase the plant’s production rate from 2000 to 6000 tyres a day. Speaking to French newspaper La Tribune, Mr Caux said Michelin will invest 18 million euros between 2004 and 2005 on top of the 70 million the company has already invested. The managing director did not rule out further investment in the country. According to the report, Michelin says it will create up to 200 new jobs in order to keep up with demand. The new jobs will be in addition to the company’s existing workforce of 754, of these 650 are presently based at the Davydovo site.