Michelin announced it is looking to invest in a factory in Egypt, following the failure of its attempts to purchase the country's public Transport and Engineering, Trenco.

Michelin announced it is looking to invest in a factory in Egypt, following the failure of its attempts to purchase the country's public Transport and Engineering, Trenco. The announcement follows nine months of discussions between the French group and the Egyptian Holding Company for the Chemical Industries, which ultimately came to nothing. Michelin remains focused on developing its presence in Egypt and could still invest in a factory.