$140 million announced to help modernize N.S. Michelin plant to produce more tires for electric vehicles

Michelin says it plans to spend $140 million to modernize its plant in Bridgewater, N.S., to help meet the global demand for tires for electric vehicles.

The funds will help secure people's jobs at the Bridgewater plant, as well as create more than 70 new positions.

The announcement was made following a tour of the Bridgewater manufacturing plant Tuesday morning, which included Prime Minister Justin Trudeau and Nova Scotia Premier Tim Houston.

"Nova Scotia is an amazing place to do business and Michelin's decision to modernize and expand its operations here speaks volumes about our business environment," said Nova Scotia Premier Tim Houston.

"Michelin's strong commitment to greening their operations aligns with our government's plan for a clean and green economy, where the environment and Nova Scotians can thrive, and no one is left behind."

According to Alexis Garcin, the president and CEO of Michelin North America, Inc., the plant's modernization will also help Michelin reduce pollution in its operations by electrifying key parts of the manufacturing process.

"Michelin is committed to developing the mobility of goods and people and doing so in a cleaner and more sustainable way," said Garcin.

"With these investments, we will do exactly that: continue to add capacity in the most strategic segments of the tire market to support the transition to electric vehicles and to energy efficient freight transportation, while further reducing the environmental footprint of our products and our plants."

In total, Michelin says it will be spending $300 million towards plants in Nova Scotia, including the $140 million for the Bridgewater plant, with the rest of the money going towards the plants in Waterville and Pictou.

Included in that total, Michelin will receive a tax credit of about $61.3 million over five years through Nova Scotia's newly increased Capital Investment Tax Credit to be used in the province.

The Government of Canada is also spending up to $44.3 million in federal funding toward Michelin's expansion, pending a final agreement.

According to Michelin's website, the company is the largest private manufacturer employer in Nova Scotia.

Currently, there are three Michelin plants in Nova Scotia.

In Canada, Michelin employs about 4,000 people, including approximately 3,600 employees in Nova Scotia. That includes approximately 170 marketing and sales employees at both its Laval office and across Canada in distribution centres, field support, and sales positions, and approximately 360 employees in Quebec and Ontario, operating under the Camso brand.

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