Michelin Plant to Open In Russia
Michelin & Cie., Europe's largest tire maker, will open a tire plant in Russia on July 7.
The plant, based in the Moscow region, will produce 2 million car tires a year and may expand capacity to 6.5 million tires next year. Michelin is investing US$160 million in the plant.
Michelin, based in Clermont-Ferrand, France, two years ago planned to borrow $20 million from the European Bank for Reconstruction and Development for the Russian factory. - (EMEconomy.com)
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