Michelin finalises acquisition of Tex Tech Industries to bolster Polymer Composite Solutions

French tyre giant Michelin has completed its third non-tire acquisition of 2025 with the takeover of Tex Tech Industries, a Maine-based specialist in coated fabrics and textile solutions. The deal, finalised on 1 July 2025, follows Michelin’s earlier purchases of Cooley in January and Flexitallic in April, expanding its Polymer Composite Solutions (PCS) division. Michelin described Tex Tech as a “strong strategic fit” for PCS, citing shared values of innovation and high-quality production. Tex Tech Industries, founded in 1904, designs and manufactures advanced textile products and coated fabrics for demanding applications across aerospace, aviation, and composite industries. Its portfolio includes thermal protection systems for space vehicles, burn-resistant aircraft fuselage materials, fire-blocking textiles for aircraft seats, and custom fabrics for composite applications. Michelin first announced the acquisition in January 2025, projecting that Tex Tech would boost PCS revenue by approximately 20%, equating to $280 million (€240 million). The latest figures confirm Tex Tech reported sales of $128 million in 2025 and employs 300 people across six factories—five in the US and one in the UK.