Michelin Sells Share in Sapphire Energy Recovery
Michelin Tyre plc has announced the sale of its share in the Sapphire Energy Recover joint venture. The company, established in 2001 by Michelin together with cement and aggregate producer Lafarge, is now solely owned by Lafarge.
The decision to move Sapphire to sole ownership was made, says Michelin, once the business had successfully achieved its objective of developing a healthy and viable end-of-life process for used tyres. Sapphire provides the items to the cement industry as a waste-derived fuel, and the tyre maker adds that a sustainable market that benefits both tyre manufacturers and cement producers has now been created.