Acquisition strengthens Michelin’s specialty textiles and high-performance composite materials portfolio, accelerating growth beyond the tyre industry.
Michelin has completed its acquisition of Tex Tech Industries, reinforcing its Polymer Composite Solutions business and expanding its presence in high-performance specialty materials beyond the traditional tyre sector. The transaction, first announced in January 2026, was finalized after receiving all required regulatory approvals and forms part of Michelin’s long-term diversification strategy.
Founded in 1904 and headquartered in Maine, USA, Tex Tech Industries is a leading designer and manufacturer of specialty textiles, engineered fabrics, and coated materials used in demanding industrial applications. Its products serve sectors including aerospace, defence, aviation, industrial manufacturing, and advanced composites, making the company a strong strategic fit for Michelin’s growing polymer composites business.
Tex Tech has developed innovative solutions for highly specialized applications such as thermal protection systems for space vehicles, burn-resistant aircraft fuselage materials, fire-blocking aircraft seat textiles, and custom composite fabrics. The company employs around 300 people and operates six manufacturing facilities—five in the United States and one in the United Kingdom. In 2025, Tex Tech reported revenue of approximately US$128 million.
Michelin said the acquisition aligns with its “Michelin in Motion 2030” strategy, which aims to expand the company’s presence in high-value engineered materials by leveraging its expertise in polymer science and advanced composites. Tex Tech’s capabilities complement Michelin’s existing portfolio while opening opportunities in new industrial and technology-driven markets.
The acquisition is Michelin’s third major transaction in its Polymer Composite Solutions business during 2026, following the acquisitions of Cooley Group in January and Flexitallic in April. Together, these investments significantly strengthen Michelin’s position in coated fabrics, specialty textiles, sealing technologies, and engineered polymer solutions for critical industrial applications.
Michelin stated that the transaction was financed entirely through available cash, allowing the company to preserve its strong financial position while continuing to invest in innovation and strategic growth. The company also plans to establish Polymer Composite Solutions as a dedicated reporting segment, reflecting the increasing importance of non-tyre businesses within its global operations.
With the completion of the Tex Tech acquisition, Michelin continues to diversify its business beyond tyres, strengthening its capabilities in advanced materials for aerospace, defence, healthcare, industrial manufacturing, and other high-growth sectors. The move reinforces the company’s ambition to become a global leader in engineered polymer composite solutions while supporting long-term innovation and sustainable industrial development.