Michelin opens Ft 14.5 bln tyre plant in Nyíregyháza
Thursday, September 29, 2005, 16:30
Michelin, Europe's biggest tyre maker, opened its new Ft 14.5 bln high-performance tyre factory in Nyíregyháza (NE Hungary) on Thursday, with Minister of Economic Affairs and Transport János Kóka and Finance Minister János Veres present. The factory will employ 217 workers to turn out 800,000 tyres a year, Joel Pouget, who heads Michelin's Hungarian unit, said at the opening. He added that local suppliers would fill 20% of the plant's orders. Michelin set up in Nyíregyháza in 1996, with the purchase of Taurus, a maker of tractor tyres. In 2002, Michelin turned its Hungarian unit into a regional centre for Central and Eastern Europe. Michelin has plants in 75 countries. It controls 20.1% of the worlds tyre market.