Michelin To Build Vietnamese Factory?

A report in the Vietnam Investment Review, citing an unnamed Michelin official, suggests that the tyre manufacturer may be considering building a tyre manufacturing plant in Vietnam over the next three years, at a cost of US$ 1.5 billion.

The plant could cover an area of up to 100 hectares and have an annual production capacity of 80,000 tons, suggested the report, with up to 90 per cent of output going to satisfy rising demand for tyres (particularly industrial tyres) in Australia and Asia. The factory would use Vietnamese rubber in manufacturing the tyres.