Michelin Announces Two Acquisition Projects Aimed At Strengthening Its Polymer Composite Solutions Business

• Michelin is accelerating its growth with the acquisition of Cooley Group and Tex Tech Industries, two leaders in the coated fabrics and technical textiles markets.
• An increase of approximately 20% in the turnover of the Polymer Composite Solutions business , which will soon become a specific reporting segment in the Group's financial communication.
• Operations fully financed by available cash, financial strength preserved; closing of transactions expected in the first half of 2026.

(GLOBE NEWSWIRE) - As part of its " Michelin in Motion 2030 " strategy, the Group is leveraging its know-how and expertise to expand into new, high-value-added markets. Over the past two months, Michelin has finalized agreements to acquire Cooley Group, a specialist in industrial coated fabrics, and Tex Tech Industries, a leading designer and manufacturer of specialty textiles and fabrics. These two companies are highly strategically complementary to the Group, sharing a commitment to innovation and product quality, while operating in complementary geographic regions.

Celebrating its 100th anniversary in 2026 and headquartered in Rhode Island, USA, Cooley is globally recognized for its expertise in high-performance polymer-coated fabrics. The company is vertically integrated, with capabilities in polymer weaving, knitting, and extrusion. Cooley Group designs and manufactures innovative and sustainable polymer solutions for a wide range of applications, including medical devices, sealing, water and chemical containment, and other environmentally critical solutions.

Founded in 1904 in Maine, USA, Tex Tech Industries is a leading designer and manufacturer of specialty textiles, fabrics, and coatings for a wide range of industries and niche applications. The company has created solutions for some of the most demanding applications, including thermal protection systems for spacecraft, fire-resistant materials for aircraft fuselages, flame-retardant textiles for aircraft seating, and custom fabrics for composite applications. Michelin is already a European leader in coated fabrics with brands such as Orca. These two acquisitions would significantly accelerate its expansion into new markets and regions and increase the revenue of Michelin's Polymer Composite Solutions
business by approximately 20% (~$280 million) .

Both transactions are expected to close in the first half of 2026, subject to customary adjustments and merger control approvals in the relevant jurisdictions. They will be fully financed from available cash, for amounts that will not be disclosed at this time. As the Polymer Composite Solutions business reaches a significant size within Michelin, the Group plans to create a dedicated reporting segment starting in 2026.