Austin announces £3.9 million grant boost for Michelin in Stoke-on-Trent
23/02/2010
The Department for Business, Innovation and Skills (BIS) has agreed a grant of £3.9 million for Michelin Tyre plc in order to safeguard manufacturing jobs and significantly increase productivity at the company’s plant in Stoke-on-Trent, North Staffordshire, announced Regional Minister Ian Austin today.
Announced at a conference held at BIS by Lord Mandelson today, the Grant for Business Investment (GBI), supported by regional development agency Advantage West Midlands, will support a project to extend Michelin’s current premises, install new equipment and modernise the production process.
This will enable the company to retread a new generation of Michelin Durable Technology (MDT) truck tyres and improve its existing processes.
Ian Austin, Regional Minister for the West Midlands, said: “Today’s announcement is fantastic news for Stoke on Trent and a vote of confidence in the plant and the local workforce.
“It will help develop and sustain manufacturing skills in Stoke, and shows the Government is committed to manufacturing, ensuring that businesses and workers have the support and tools they need to compete and prosper.”
Mick Laverty, chief executive at Advantage West Midlands, said: “Michelin is an international company at the forefront of excellence and innovation, with a strong commitment to training employees and involvement with the local community.
“We have a key role to play to support regional businesses with the finance they need for competitiveness and today’s announcement is great news for Michelin, for Stoke-on-Trent and for the manufacturing industry in the West Midlands region.”
Peter Marsh, Plant Manager at Michelin plc, said: “I am delighted to announce this planned significant investment which would secure the long term future of our Stoke plant.
“We will be able to upgrade the factory to re-manufacture the latest generation of Michelin Durable Technologies truck and bus tyres, and so offer the customer products with even greater performance and economy in use.”