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Michelin’s Chennai plant to raise 2015 production by over 45%

Chennai: In 2015 French tire maker Michelin is planning a significant increase in annual production with a 45% reduction in production from 110,000 start tons to 16,000 tons to meet the growing demand for radial tires. Michelin is the only plant in India, located on 290 acres of land leased by the state government, 60 kilometers from Chennai. Last year, the company started commercial production with a focus on radial tires. Radial tires are growing at 14% in India. Michelin is targeting a market of 16,000 one lakh truck tires per year. Although its tires are priced 7-8% higher than its competitors in the medium and full-size vehicle segments, it has a market share of 12-15% in the Indian radial tire market. On capacity expansion, the president of Africa, India and Middle East “Our challenge is to increase capacity to accommodate market growth. Currently, the market is growing at a healthy rate of 14%. Specific expansion targets are: ‘No,'” he explained. Mi...

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Michelin’s Chennai plant to raise 2015 production by over 45%