Michelin: Taking the Average Tire And Turning it Into a 'Tweel'

Tire maker Michelin is literally reinventing the wheel for industrial equipment and commercial mowers. Michelin North America Chairman and President Pete Selleck says, 'the tweel is a revolutionary new product that combines a tire and wheel.' Selleck says the tire maker developed the tweel over the last 12 years and recently inked a contract to supply John Deere with tweels. At its new plant in North Carolina, Selleck says the company made a $50 million investment in the plant and it now has 100 people devoted to everything from R&D to production. TheStreet's Ruben Ramirez reports from New York.