Michelin inaugurated its new tyre plant in Serbia
The Michelin Group and its Tigar Tyres subsidiary inaugurated the new Tigar Tyres plant in Pirot, Serbia. The Michelin Group invested 215 million euros to expand the capacity of its entry – level segment production plant, creating 500 new jobs in the region. The company celebrated the official opening of its new tyre plant in the presence of the President of the Michelin Group, M. Jean-Dominique Senard and the President of The Republic of Serbia, M. Tomislav Nikolić, together with the Tigar Tyres employees and the various external partners who all contributed to the success of the project. The new plant is equipped with high-end technology, allowing to increase the yearly production capacity and to reach 12 million tyres by the end of 2016. The Tigar Tyre plant will be the production base of entry-level tyres that are commercialized under various brands, like Tigar, Kormoran and Riken. The new industrial unit will supply European markets, the Russian and CIS markets, as well as Africa and the Middle East.