Michelin purchased a Georgia-based developer of products made from end-of-life tires and other industrial goods. Lehigh Technologies uses rubber from expired tires and other goods to make materials used for new tires.
Pete Selleck, chairman and president of Michelin North America, said the purchase helps Michelin look for “more sustainable mobility,” and find ways to use less natural resources to create a product.
“Lehigh Technologies, the technological leader in this area, is a natural fit, as it will equip Michelin with tools to reduce the amount of raw materials that we need to produce new products for all of our current and future customers in the tire and non-tire industries,” Selleck said, in a news release.
Lehigh Technologies is based in Tucker, Ga. and employs approximately 100 people. The primary material it manufacturers is called micronized rubber powder and can be used as a substitute for oil- and rubber-based materials used in producing tires and other construction material.
“This deal provides Lehigh Technologies with an incredible opportunity to continue our growth,” said Alan Barton, CEO of Lehigh Technologies. “With the full backing of Michelin, we can continue to expand our capabilities, execute our global growth strategy and pursue new market opportunities.”
Michelin completed the acquisition on Oct. 13.