French tyre company Michelin has unveiled plans to construct a new €450M production plant in Mexico.
The 142,000sq m plant, to be located in León, Guanajuato, will produce high-end tyres for passenger cars and light trucks.
The new facility, the group’s 21st in North America and 69th across the world, is expected to manufacture four to five million tyres annually during the initial production phase, ramping up gradually.
Michelin Mexico’s director Mike Boggs said: “We’re pleased to strengthen our industrial presence in Mexico, thereby being able to satisfy the needs of North American car manufacturers and motorists looking for high-quality tyres that are perfectly adapted to their usage conditions.”
Construction work is set to commence in the second half of 2016 with tyres expected to come off the production line in the fourth quarter of 2018.
* Data provided by Timetric's Construction Intelligence Center.