Michelin Continues to Invest in Nova Scotia

A provincial investment of up to $4 million will help secure an investment of about $41 million for Michelin's Waterville and Bridgewater plants. Economic Development Minister Ernest Fage confirmed today, Aug. 3, that Nova Scotia's plants were successful in their bid to bring the investment dollars home.

"More than three thousand Nova Scotians and their families depend on Michelin for their livelihoods -- this contribution will help secure those jobs, as well as expanding the existing workforce," said Mr. Fage. "This investment in the economies of the Annapolis Valley and South Shore reflect the priority our growth strategy, Opportunities for Prosperity, puts on strengthening our rural economies."

Twenty-five million dollars will be invested at the Bridgewater site, providing greater flexibility and allowing the plant to produce larger dimension light truck tires. Sixteen million dollars will be invested in the Waterville plant, allowing Waterville to produce large industrial and construction tires.

"Given that Michelin's plants must compete internationally for investment capital, we're proving that Nova Scotia can successfully compete on the global market," said Mr. Fage.

Michelin's spokesperson George Sutherland stated: "These investments are good news for our Bridgewater and Waterville facilities. They demonstrate the ability of Nova Scotia employees to deliver on quality and price in a very competitive market. Michelin and our Nova Scotia plants compete on a global basis with tire companies that manufacture throughout the world. We very much appreciate the province's recognition of this. Michelin Nova Scotia's ability to continue to attract investment and to remain flexible to constantly changing economic and market conditions is key to our overall long-term success."

Michelin employs more than 3,400 employees in Nova Scotia.