Michelin says 2004 was a good year; warns of material shortages

Clermont-Ferrand, France--Groupe Michelin has appointed Michel Rollier (finance director) to the post of managing partner, alongside Edouard. Michelin and René Zingraff. Speaking at the annual shareholder meeting, Edouard Michelin said Michelin is now clearly the world's market leader, with a share above 20 percent. He said sales had grown by nearly 60 percent in the new markets of eastern Europe, Asia, South America and the middle east.

Michelin added that the comapny expects raw materials prices to, at best stabilise, but more likely to increase still further in the coming decade. These prices, "will never return to the levels of five years ago," he said.

The company also announced the completion of Europe's longest wet handling test track at its Ladoux test centre. Sophie Louis and Pierre Fraisse told shareholders that the track is especially well-suited to the collection and analysis of data from tests

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Announcements from Michelin (French language)

Press release of Rollier appointment from Michelin