Michelin has announced a $300-million investment in its three Nova Scotia production facilities, which will include the planned electrification of the manufacturing process.

In Canada, the company employs approximately 4,000, including approximately 3,600 in Nova Scotia at its manufacturing plants in Bridgewater, Lunenburg Co., Waterville, Kings Co. and Granton, Pictou Co.

$140 million will go towards modernizing its Bridgewater plant and creating more than 70 new jobs. According to the CBC, construction will start in late spring or early summer, adding 34,400 square feet across two buildings – or a little more than two per cent of the nearly one-million-square-foot plant.

"Michelin is committed to developing the mobility of goods and people and doing so in a cleaner and more sustainable way," Alexis Garcin, president and CEO of Michelin North America, Inc., said in a statement.

"With these investments, we will do exactly that: continue to add capacity in the most strategic segments of the tire market to support the transition to electric vehicles and to energy efficient freight transportation, while further reducing the environmental footprint of our products and our plants."

Headquartered in Greenville, S.C., Michelin North America has approximately 23,000 employees and operates 34 production facilities in Canada and the U.S. 

According to Michelin's (MGGDY) website, the French multinational tire producer is the largest private manufacturer employer in Nova Scotia.

Michelin in Canada

Michelin also employs approximately 170 marketing and sales employees at both its Laval office and across Canada in distribution centres, field support and sales positions, and approximately 360 employees in Quebec and Ontario, operating under the Camso brand.

Included in the $300 million total, Michelin will receive a tax credit of approximately $61.3 million over five years to be used in Nova Scotia.

The Canadian government is also spending up to $44.3 million in federal funding toward Michelin's expansion via the Strategic Innovation Fund, pending a final agreement.

While there were no details provided on the electrification, the facilities will include manufacturing tires for the growing electric vehicle segment; larger rim size tires for passenger and light truck vehicles; as well as improved fuel efficiency for commercial trucks.

"We're excited to continue to enhance and grow our operations in Canada," said Andrew Mutch, president of Michelin North America (Canada) Inc. in a statement.

"We have a wonderful history of manufacturing tires here for more than 50 years, and I'm thrilled we can strengthen the competitiveness of our factories for our current and future workforce."