25 May 2004
From Automotive News
Paris-Groupe Michelin needs to boost production capacity and could do this by either building factories or buying sites from other companies and modernising them, according to its chairman Edouard Michelin.
Michelin told a French newspaper that the tyre maker will improve its results this year thanks to improved efficiency and a recovery in its markets, according to Reuters.
Michelin said the company expects raw material prices to continue to rise this year but at a slower pace than in 2003, when they punctured the group's profits.
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