Comprehensive foreign media reported that the Michelin Group is expected to invest EUR 35 million (approximately US$ 43.82 million) in Russia to expand its product portfolio in Russia.
Thierry Chiche, senior vice president of the Michelin Group Russia, said that he will invest 35 million euros in the Davydovo tire manufacturing plant near Moscow this year to expand the product portfolio it produces.
Davydovo's tire manufacturing plant currently produces 2 million tires of 13-16 inch Michelin and BF Goodrich brands each year, and has opened a truck tire repair facility in the area.
The Michelin Group stated that it will launch the Michelin X-Ice3 in Russia and expects to build a logistics base in Russia.
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