Michelin Announces Expansion in Lexington County

$200 million Investment expected to create 270 new jobs

LEXINGTON COUNTY, SC – May 9, 2011 – Gov. Nikki Haley, the SouthCarolina Department of Commerce and Lexington County today announcedthat Michelin will invest another $200 million in its Lexington facilityto further expand its tire building capacity. The tire maker hasalready invested more than $1 billion in the site since it was firstestablished in 1981. This latest project, for which all equipment willbe installed by the first half of 2013, will create 270 new jobs, phasedin over the next two years. Work will begin immediately.

“Trusted for its quality and value, the Michelin brand was quiteresilient during the recent economic crisis,” said Dick Wilkerson,chairman and president of Michelin North America. “As the economyturned, demand for our tires increased dramatically. We must haveadditional capacity for high performance passenger car tires to meet ourcustomers’ needs. We’re thrilled that the expansion will be in our homestate of South Carolina. The Lexington County Council and the state ofSouth Carolina have been effective partners with us, working to makethis expansion and the new jobs that support it a reality.”

Michelin’s Lexington passenger and light truck tire facilitycurrently employs 1,360 people in 1.2 million square feet. Michelin alsooperates an earthmover tire plant at the site, employing 475 people in825,000 square feet.

“Michelin has been an important part of the Midlands business communityfor decades and we celebrate the company’s decision to increase itspresence in South Carolina. This announcement not only shows thecompany’s commitment to our state, but that we are doing right things tohelp South Carolina’s existing businesses grow. We look forward toMichelin’s continued growth in South Carolina,” said Gov. Nikki Haley.

“Michelin is a world-class company and we are excited the company willexpand operations in Lexington County. Manufacturing continues to play akey role in South Carolina’s economy, and today’s announcement isanother indication that our state’s business-friendly climate is workingto attract investment from manufacturing companies and create jobs,”said Bobby Hitt, Secretary of Commerce.

“Today we are pleased to be able to celebrate this milestone achievementby Michelin North America.  We are extremely delighted to have them inLexington County and wish them continued success.  We applaud them fortheir 30 year commitment to this community and for their level ofinvestment” said Jim Kinard, Chairman of Lexington County Council.

Michelin

Dedicated to the improvement of sustainable mobility,Michelin designs, manufactures and sells tires for every type ofvehicle, including airplanes, automobiles, bicycles, earthmovers, farmequipment, heavy-duty trucks, motorcycles and the space shuttle. Thecompany also publishes travel guides, hotel and restaurant guides, mapsand road atlases. Headquartered in Greenville, S.C., Michelin NorthAmerica (www.michelin-us.com) employs more than 21,400 and operates 18 major manufacturing plants in 16 locations.