Michelin announces two acquisition projects, aiming at reinforcing its Polymer Composite Solutions business

Core Insights - Michelin is pursuing two acquisitions, Cooley Group and Tex Tech Industries, to enhance its Polymer Composite Solutions business as part of its "Michelin in Motion 2030" strategy [2][8] - The acquisitions are expected to increase Michelin's revenue from Polymer Composite Solutions by approximately 20%, equating to around 280 million USD [5][8] - Both transactions are anticipated to close in the first half of 2026, pending regulatory approvals, and will be financed entirely in cash [5][8] Company Details - Cooley Group, celebrating its 100th anniversary in 2026, specializes in high-performance polymer coated fabrics and is vertically integrated with capabilities in weaving, knitting, and polymer extrusion [3] - Tex Tech Industries, founded in 1904, is known for its specialty textiles and coatings, serving demanding applications such as Thermal Protection Systems for space vehicles and fire-resistant materials for aircraft [4] Market Position - Michelin is already a leader in coated fabrics in Europe with established brands like Orca, and these acquisitions will significantly accelerate its market expansion [5][8] - The Polymer Composite Solutions segment is becoming increasingly significant within Michelin's overall business, prompting plans to create a dedicated reporting segment starting in 2026 [6]