Michelin and machine manufacturer Fives have created a joint venture aimed at developing and marketing industrial machines and production shops on a global scale via 3D printing.
Michelin has for several years been developing its unique expertise in metal additive manufacturing in order to produce, on an industrial scale, mold parts that are cannot be achieved using traditional means of production (machining, welding, etc.). This technology now makes it possible to develop and market truck and car tires with exceptional performance.
Under the terms of the agreement, Fives Michelin Additives Solution will be 50% owned by Fives and 50% by Michelin and will benefit from a financial contribution of at least €25m (US$28.3) in the first three years.
Initially, it will employ about 20 people from the Michelin and Fives teams and integrate additional expertise. The company will be located near Clermont-Ferrand, France.
16 September, 2015
