Michelin eyes higher profits on lower costs

Clermont-Ferrand, France – Group Michelin expects to report increased operating income this year, based in part on lower raw materials acquisition costs that the company expects to yield benefits of approximately $165 million (€151 million), the company said in its third quarter financial report.

The company did not disclose its earnings for the quarter or nine-month period ended 30 Sept, but it said sales revenue fell 2.5 percent in the quarter on declines in unit volume and price/mix.

Sales revenue for the nine months ended 30 Sept…

To read more,please login or register below.

This is the first step to more free
content, user offers, subscriptions
and more.
Log in here using the Email Address
and Password you signed up with