Feb.1 (GMM) French tyre manufacturer Michelin has raced out of formula one and landed a $1.7 billion contract to exclusively supply the US military.
Instead of gripping drivers to grand prix victories, the ten-year deal will see Michelin shod tyres bolted to every single US Army, Navy, Air Force and Marine vehicle that is deployed around the world.
Michelin recently also won a $700m contract to supply US military planes, and reportedly invested more than $16 million to meet the surge in demand from Iraq. “Michelin is ready to step up as the one-stop source for all military tyre needs,” said Luc Minguet, COO of Michelin Americas Truck Tires.
