Michelin is to invest £14 million in its Ballymena bus and truck tyre factory in a bid to improve efficiency.
The company currently employs more than 1,000 people at the site in Northern Ireland. No new jobs will be created by the investment, but it will serve in securing existing positions.
Invest Northern Ireland is providing £2.6 million of the total investment, which will be spent on equipment and machinery to increase efficiency.
“If levels of productivity are to be increased in Northern Ireland, it is essential that local firms focus on adding greater value to their operations and increasing their export capability,” said Economy Minister Nigel Dodds.