Michelin has acquired AirCaptif, a French startup specializing in the field of ultralight inflatable structures for protection and insulation. The move enhances Michelin's sustainable growth strategy and fits the company's aim to grow outside of the tire space.
"In 2030, 20-30 percent of Michelin's revenue will come from activities relating to and beyond the tire," Maude Portigliatti, business director of high-technology materials and member of the Michelin's executive committee, said in a statement.
Michelin, she added, aims to grow in five key areas in order to achieve this revenue goal: services and solutions, sustainable flexible composites, metal 3D printing, hydrogen mobility and materials for regenerative medicine.
"The acquisition of AirCaptif will, therefore, contribute to reaching our goals for growth beyond the tire, and more specifically in the field of flexible composites, by offering extremely innovative products manufactured from high-technology materials," Portigliatti said.