Michelin builds new plant in Serbia to increase production capacity to 12 million

Comprehensive foreign reports, Michelin tires have announced that it will build a new tire factory in Serbia, which will become the company's second factory set up in the area. Michelin said that it will build a new tire factory in Pirot, Serbia. Construction activities will begin in August of this year and will employ about 700 employees.

It is reported that the new plant will be put into production after the completion of pneumatic tires, most of its output will be exported to Europe, Africa and Asia, the export market also includes some CIS countries. According to the Michelin plan, the new plant will increase its tyre production capacity in Serbia from the current 8 million barrels per year to 12 million barrels per year.

Michelin recently launched a number of capacity-restructuring projects on a global scale. The company first announced on the 11th of this month that it had shut down a French factory and sold Algerian truck tires. It announced that it would stop the Colombian tire production business and close the local market the following day. Two factories. Recently, Michelin has reached an agreement with local Indonesian companies. The two sides will spend USD 435 million to form a joint venture and plan to start producing synthetic rubber locally in 2017.

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