Michelin plans to open factory in India in three years time
June 20th, 2009 Leave a comment Visited 39 times, 3 so far today
Michelin plans to open factory in India in three years time
France based tyre company Michelin has announced that they are planning to open a factory in the Indian market in the next three years.
Company chief executive Michel Rollier said in a statement: “We hope the factory will open within three years.”
Market sources say that the company is planning to invest more than one billion Euros on their new plant in the Asian market.
Michelin India Tamil Nadu Tyres already exists in India. It was formed in April this year.
Sources say that the company is now planning to acquire the operations completely to begin their Indian plans.
The company is currently on a cost cutting spree in their domestic market. Michelin plans to shed more than 2,800 jobs in the next three years.
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