Dated: 23 June 2010
Michelin Grant Confirmed
Back during the Labour government, £3.9 million grant was promised to Michelin’s Stoke-on-Trent facility. When the coalition Con-Dem Government came to power last month it was feared that the funding previously promised would be part of the cuts place when the new budget was announced.
However, despite there being a lot of cuts in a lot of areas of the UK, Michelin no doubt let out a sigh of relief when it was confirmed that they would indeed get the £3.9 million. The grant now allows the French manufacturer to make plans for the modernising the site, making it more efficient and safer.
A local newspaper for the Stoke-on-Trent area “The Sentinel” has reported that the grant, the grant is set to “unlock investment of more than £20 million over the next five years”, which is most likely going to be used to invest in equipment for the retreading of Michelin’s newest TBR tyres.
Peter Snelling, head of communications for Michelin in Stoke-on-Trent has been quoted as saying, “We have had confirmation from the DBIS that we are unaffected by any of this. The project goes ahead as planned.”
It is reported that the company retains its aspiration to decrease the site’s emissions in addition to increasing retreading capabilities. Perhaps the most relieved by this news will be the 1,000 plus workers in the area that are employed by – or because of – the tyre manufacturer. With this funding, jobs should remain secure for the immediate future.