Dollar toll on Michelin sales

By Patrick Raleigh, ERJ On-line news editor

Clermont-Ferrand, France-Groupe Michelin’s efforts to grow sales last year were offset by the strength of the Euro against the dollar. Net turnover came in at Euro15 400 million, 1.8-percent lower than is 2002, Michelin reported 12 Feb.

Currency factors knocked Euro1303 million (8.3 percent) off net sales last year cancelling out gains on higher volumes (3.3 percent), product mix (1.6 percent) and the consolidation of the Viborg tyre distribution business (2.1percent). The weaker dollar impacted Michelin sales outside of…

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