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Michelin looking to save €1.2bn by 2020

Singapore – Groupe Michelin is seeking to save roughly €1.2 billion through to 2020, company officials said at a 19 Sept investor’s day presentation in Singapore.

The savings would include €500-550 million in selling, general and administrative expenses, €450-500 million in manufacturing and logistics costs, and €150-200 million in spend on materials, the French tire-maker said.

The company also reiterated its targets, announced earlier in June, to reduce…

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