Michelin announces multi-million dollar investment in Nova Scotia plants

Michelin has announced a C$300 million investment in its Canadian operations to further improve its environmental footprint.

This multi-million dollar investment, which is part of Michelin’s global growth strategy, will include the installation of new technology and equipment. This investment will allow the company to produce more energy-efficient tires, including tires used for electric vehicles. The new equipment will be installed at Michelin’s three plants in Nova Scotia.

In addition, the electrification of key parts of the manufacturing process will reduce carbon emissions in factories, the company said.

“Michelin is committed to advancing the mobility of products and people, and doing so in a cleaner and more sustainable way,” said Alexis Garcin, President and CEO of Michelin North America, Inc. “With these investments, we will do just that. Continue to add capacity in the most strategic segments of the tire market to support the transition to electric vehicles and energy-efficient freight, while reducing the environmental impact of our products and our factories.”

In addition to its sustainability initiatives, this funding also focuses on creating new jobs. The multi-year plan also includes a C$140 million expansion of Michelin’s Bridgewater plant, which will add 70 new jobs.

“Companies understand the excellence of Canadian workers and the automotive sector, and today’s announcement is a testament to that,” Prime Minister Justin Trudeau said in a statement yesterday. “Here in Nova Scotia, we’re seeing once again that when we invest in our workers, we’re building communities and an economy that works for everyone, while leaving a stronger, healthier future for our children.”

Pending final agreement, Michelin could receive up to C$44.3 million in federal funding through the Strategic Innovation Fund. Michelin will receive C$61.3 million in provincial tax credits from the province of Nova Scotia over the next five years to support their expansion. Through this project, Michelin expects to create nearly 4,000 jobs at the company’s three plants in Bridgewater, Pictou and Waterville, Nova Scotia.

“Today’s announcement is great news for the future of Canada’s automotive sector. We are proud to be partnering with Michelin on a project that will support Canada’s advancement in transportation and keep Canada moving forward with a clean economy. With these investments, we continue to build a strong automotive sector ecosystem by supporting the development of clean technologies in the tire industry, creating good-paying jobs and bringing economic benefits to Nova Scotians,” said Innovation Minister François-Philippe Champagne. , Science and Industry.

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