According to Bloomberg News, Michelin, the world’s second-largest tire manufacturer, recently announced that its Russian tire plant will be expanded to twice the current level.
Eric Faidy, president of Michelin Russia, said in an interview that “The annual production capacity of the Russian plant in Michelin will be expanded to 4 million pieces. We plan to build a workshop for retreading next year. In addition, Michelin also plans to put the existing 140 before the end of 2010. The number of home dealers has increased to 200 and will increase to 250 in the next five years."
Russian auto sales fell nearly 50% this year, and tire demand fell 35%. However, Michelin predicts that the Russian auto market will recover next year.
Bernard de Vaugerin, the financial director of Michelin Russia, said: "If there is a clear sign of a recovery in the market by the end of 2010, we will immediately take measures to increase production capacity."
Russia is Europe's largest tire market. The Michelin Russia factory is located in Davydovo (southern Mexico).
In addition, Michelin’s global rivals Bridgestone and Goodyear currently plan to build factories in Russia, or supply tires to Russian automakers.
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