News Today: Michelin Plans Major Investments to Boost Sri Lanka’s Rubber Industry

Global tyre giant Michelin is set to elevate Sri Lanka’s rubber manufacturing industry to new heights. Recently, a high-profile delegation from Michelin, led by Corporate Vice President Eric Le Corre, met with the newly appointed EDB Chairman Mangala Wijesinghe to explore growth opportunities and strengthen their long-standing partnership.

The Michelin team discussed the need for Sri Lanka to adopt proactive policies that increase rubber production, enabling a thriving value-added rubber sector. The company also suggested creating a dedicated rubber zone to expand the production of diverse rubber products on the island.

Michelin, which began operations in Sri Lanka in 2019 after acquiring Camso-Loadstar, is now the largest French investor and one of the country’s top exporters, employing nearly 6,000 people across the island. The company’s local production includes agricultural and industrial solid tyres, as well as tracks, which are distributed worldwide.

With anticipated investor-friendly policies, EDB Chairman Wijesinghe assured full government support to further expand Michelin’s exports. As the world’s second-largest tyre manufacturer, Michelin has a significant presence in Asia, particularly in Thailand, China, India, and Sri Lanka.

This strategic expansion marks an essential milestone for the Sri Lankan rubber industry, positioning the country as a key player in the global rubber market. The collaboration is expected to spur new advancements and solidify Sri Lanka’s role in value-added rubber exports.