Radikal – French tire manufacturer Michelin gives Turkey the priority in its medium term investment plans, thanks to rising sales and the country’s increasingly capable automotive industry.
The French company plans to invest EUR 1.5 billion annually in production and R&D operations until 2014. Michelin has been growing consistently in Turkey since opening its country office in 1996, according to CEO and Managing General Partner, Michel Rollier. Pointing out the Turkish automotive industry’s proven capability in manufacturing light commercial vehicles, Rollier praised the safety and fuel-efficiency awareness levels of the country’s drivers, adding that a manufacturing plant in Turkey would help Michelin grab a larger market share.
The company currently holds the third place in Turkey’s tire market and saw its sales increase by 20 percent in 2010 over the previous year. Michelin has production operations in 18 countries, manufacturing over 175 million tires a year.