Innovation project at Michelin Tire gets $10M funding support

Waterville, NS – The Atlantic Canada Opportunities Agency (ACOA) says it will provide $10 million toward a research component of an expansion of Michelin North America (Canada)s Waterville, Nova Scotia truck tire facility. This represents the first time Michelin has undertaken a research and development program within its Canadian truck tire product line.

The repayable contribution by the federal government is being made through the Atlantic Innovation Fund. Michelin is investing $81 million of its own money.

The project involves the development and installation of innovative and cutting-edge manufacturing equipment for the production of a new wide- based truck tire line at the companys Waterville facility. The majority of the R&D will be carried out at the Waterville plant and at the companys facility in Granton, Pictou County.

The project will develop the next generation of manufacturing equipment to allow the company to produce X One tires on a large scale. It will require the development and industrialization of new prototype tire-building machines, advanced extrusion equipment and rubber formulations.