ARMORE, Okla. (Jan. 28, 2002)—Michelin North America Inc. said it will implement a $56 million capital investment plan to upgrade equipment at its Ardmore facility.
The four-phase project will enable the plant to produce Michelin brand tires to meet consumer demands in the fastest growing market segments, Michelin said. The factory currently manufactures Uniroyal and BFGoodrich brand tires.
The project's first phase is scheduled to begin this year and be completed in 2003, Michelin said. An initial $10 million investment is complemented by a $2.7 million earmarked for a single piece of tire building equipment.
The remaining three phases will be completed at a later, as yet unspecified time, as the market dictates them, the Greenville, S.C.-based tire maker said.
“Michelin, like any business, invests its dollars in plants that are productive, cost-efficient and flexible,” plant manager Gary Scheide said. “The Armore plant has shown that it is willing to change and adapt as we move forward in the best interest of all involved.”
The latest influx of capital follows investments of $18.2 million the company made last year and $21.5 million in 2000