Michelin Group Reports End-of-Year Financial Results
The Michelin Group released its end-of-year financial results for 2018, which detailed Michelin’s faster acquisitions-led growth and skewed earnings due to an “unfavorable exchange rate,” the company said.
Michelin Group to Acquire Camso
The two companies have entered into an agreement where Michelin will acquire 100% of the Quebec-based Camso Inc. and all its subsidiaries.
Michelin Completes Acquisition of Flex Composite Group
Michelin finalizes purchase of engineered fabrics company Flex Composite Group to expand composites business.
Michelin Acquires Flex Composite Group
FCG has a wide range of polymer composite solutions, adjacent to those already developed by Michelin.
Michelin-Backed JV Group Aims to Create Large Scale Tire Recycling
The JV group is set to establish end-of-life tire recycling plants across Europe.
Groupe Michelin Shuttering Hungary Truck Tire Plant
In response to volatility in the European truck tire market, a segment that remains 23% below its 2007 historic peak, Groupe Michelin announced the planned closure of its truck tire plant in Budapest, Hungary. Alongside such market factors, Michelin says the facility, acquired as part of its purchase of Taurus Rubber in 1996, is located
TCi’s Pekle To Join Groupe Michelin
Effective Sept. 1, Guy Pekle, president and CEO of TCi, will move back to France to begin his new role with TCi parent company Groupe Michelin. In his new position, Pekle will oversee account management, demand-to-cash and go-to-market process in the tire maker’s commercial performance department. Pekle joined Michelin in October 1986, serving as president
Groupe Michelin Outlines 2013 Results, 2015 Goals
Groupe Michelin reported its earnings targets for 2015 and predicted that volume will rise this year and first-half spending on supplies such as rubber will decline. Operating profit excluding one-time items dropped 7.8% for 2013 to 2.23 billion euros, Michelin said. Sales fell 5.7% year-over-year to 20.2 billion euros. The company plans to raise the
Groups Claim Michelin Foul With India Plant
French catholic NGO CCFD-Terre Solidaire reports that it and two Indian partners, the Tamil Nadu Land Rights Federation and Thervoy Sangam, together with NGOs Sherpa and the CGT, have reported Groupe Michelin to the Organisation for Economic Co-operation and Development for alleged violation of the OECD Guidelines for multinational enterprises. In a press statement dated
Ford Supplier Group Welcomes Michelin, Wheel Makers
Michelin and wheel manufacturers Hayes Lemmerz and Ronal are three of 13 new companies the Ford Motor Co. has added to its Aligned Business Framework (ABF). The presence of the tire and wheel manufacturers within Ford’s ABF brings the number of key component and service suppliers Ford has chosen for long-term relationships and closer collaboration