Michelin to Co-build Synthetic Rubber Plant

www.chinabuses.org: It's said Michelin made the agreement with PT Chandra Asri Petrochemical Company to set up a joint venture in Indonesia to produce synthetic rubber products.

Both parties declared that they would invest a total of USD 435 million for the joint venture, 55% of which belongs to Michelin. They will start to build the new plant at the beginning of 2015.

Due to the excessive production capacity in Europe, Michelin declared to shut one French plant and sell the truck tire business in Algeria, followed by the termination of tire business in Columbia.

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