Michelin's €23m injection to secure jobs
Tyre manufacturing giant Michelin is to spend nearly £15m (€22.7m) developing its plant in Northern Ireland, it emerged today.
The investment in new technology will help protect 1,200 jobs at the company’s factory in Ballymena, Co Antrim, the British government said.
With the authorities offering £2.7m (€4.1m) towards the project costs, enterprise minister Barry Gardiner insisted the future of one of the province’s biggest employers was secured.
He said: “This investment, which could have gone to a number of Michelin plants in Europe, represents a vote of confidence in Northern Ireland by a major global player.
“It demonstrates that Northern Ireland continues to offer an attractive location for advanced manufacturing.”
A total of 12 projects will benefit from the cash, with the emphasis on increasing capability, productivity and efficiency.
Job creation agency Invest NI has agreed to back the plans through selective financial assistance towards the £14.5m (€21.9m) total cost.
According to Mr Gardiner’s appraisal, it would be money well spent.
He added: “Michelin Tyre has been a key investor in Northern Ireland for 35 years and has invested substantially in training.
“The result is a highly-skilled workforce with the ability to embrace change and innovation.
“It is innovative projects like this which will help give the local economy a competitive edge.”
