Incentives Offered for Michelin to Open Thailand Regional HQ

A working group from Thailand’s Board of Investment has proposed granting Siam Michelin tax incentives to aid the company – a partnership between the Michelin Group and the Siam Cement Group – establish a regional operating headquarters within Thailand. The proposed establishment would cost an estimated Bt88 million (£1.38 million) and would service the far-east region.

Board of Investment deputy secretary general Hiranya Sujinai said the suggested incentives were earmarked for a regional operating headquarters that could supply raw materials and parts for Michelin tyres, conduct research and development, promote regional sales and marketing as well as to provide training programmes for Michelin personnel in a number of countries including China, Japan, Australia, South Korea, Malaysia, Singapore and Taiwan.

Siam Michelin has invested an estimated £110 million in Thailand in recent years, and manufactures and distributes Michelin, SiamTyre and BF Goodrich tyres. The company holds a 40 per cent share in Thailand’s OE radial market, and 12 per cent of the replacement market. The range of Michelin family tyres produced in Thailand is comprehensive, covering everything from motorcycle through to OTR and aircraft tyres.