Michelin has purchased Lehigh Technologies, a Georgia-based developer that uses rubber from expired tires and other goods to make materials used for new tires.
The acquisition was completed on Oct. 13, according to a press release.
Pete Selleck, chairman and president of Michelin North America, said the purchase helps Michelin achieve “safer and more sustainable mobility” and find ways to use fewer 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.
Lehigh Technologies is based in Tucker, Ga. and employs approximately 100 people. The company manufactures micronized rubber powder, which can be used as a substitute for oil- and rubber-based materials used in producing tires and other construction material, according to a press release.
“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.”