The future of Stoke-on-Trent-based tyre maker Michelin has been safeguarded after the Government unveiled support for the company’s £20million investment plans.
Newcastle MP Paul Farrelly said the announcement that the Government had approved a grant of £3.9million towards the company’s five-year scheme would secure jobs and skills in North Staffordshire.
"This is great news for the whole of North Staffordshire and means that, with the support of their French head office, Michelin can now move ahead with modernising the plant," said Mr Farrelly.
Michelin had applied for the Government grant aid towards the funding of modernisation from the Department for Business Innovation and Skills.
"The company will be working with them and the regional Government agencies to combat the recession by developing and sustaining manufacturing skills here in North Staffordshire," added Paul.
The £20 million modernisation scheme means the company will move ahead with plans to buy new equipment that will enable them to produce more durable and environmentally-friendly retreads for haulage, coach and bus customers.
The state-of-the-art new facilities with high specification manufacturing equipment will offer skills development opportunities to employees, while increasing productivity improving working conditions.
The investment will also significantly reduce solvent emissions, with the plant becoming a benchmark facility for the retreading industry worldwide.