Invest NI is supporting major investment in the Michelin Ballymena plant with an offer of Selective Financial Assistance of £2.7 million towards total project costs of £14.5 million.
This investment was welcomed by the Enterprise, Trade and Investment Minister, Barry Gardiner MP, who said it would contribute to safeguarding the 1,200 jobs at the plant and underpin its future.
The investment relates to 12 projects, the main ones being the introduction of new technology to the plant. It will substantially increase the capability, productivity and efficiency of what is currently the largest truck and bus tyre plant in the UK.
Mr Gardiner 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, and demonstrates that Northern Ireland continues to offer an attractive location for advanced manufacturing.
“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.”