Michelin Archives — City Business News

April 10, 2021 No Responses

Michelin Targets $17b Revenue, Diversifies Into hydrogen Power , Medical Devices

Foremost tyre firm, Michelin plans to add about 14 billion euros ($17 billion) to its annual revenues by 2030, by recovering from a pandemic-induced slowdown and diversifying beyond its tyre-making heritage into new activities including hydrogen...

February 19, 2021 No Responses

Michelin Explains Drop In Sales, Grip On Profit

French tyre manufacturer, Michelin, has explained that it remained profitable in 2020 despite a pandemic-induced drop in sales, thanks in part to prices dropping on raw ma taking a hit worldwide, Michelin also saw its sales drop by 15 ...

January 9, 2021 No Responses

Michelin To Sack 2,300 Workers

French tyre maker, Michelin, has announced plans to cut up to 2,300 jobs over three years as part of a new simplification and competitiveness plan in France, adding this would not involve layoffs nor plant closures.The job cuts equate ...

February 12, 2020 No Responses

Michelin Projects Lower Income In 2020

French tyre maker, Michelin on Tuesday projected lower operating income in 2020, saying the forecast did not include the systemic effect of the coronavirus crisis in China. The Paris-based company, which restarted operations in its three factories in China on....

December 10, 2019 No Responses

Michelin Launches New Tyre Range

Michelin on Monday said it has introduced a new tyre range in India for small and mid-size passenger cars. According to the company, It would be available at its authorised dealers across the nation in 30 sizes (12-16 inch) from...

November 23, 2019 No Responses

Michelin, Firm Seal €140m Hydrogen Mobility Partnership

Michelin and Faurecia have concluded arrangement to invest 140 million euros in Symbio hydrogen mobility joint venture. Michelin has also explained that apart from the JV, it will combine hydrogen fuel cell dedicated activities and it aims to becom...

November 3, 2019 No Responses

Michelin Pavilion At The Ongoing Lagos International Trade Fair

October 27, 2019 No Responses

Michelin Cut Full-Year Market Forecasts

Again, Michelin has cut its full-year market forecasts, pointing out a sharper-than-expected downturn in the truck segment. The group, which said two weeks ago it would close a French plant in response to deteriorating conditions of the auto industry, al...

October 12, 2019 No Responses

Michelin To Close Tyre Factory

Foremost Tyre manufacturer, Michelin has concluded plans to close a French-based factory with 619 employees next year as competition from cheaper Asian manufacturers knocks its profit margin. Two weeks ago, the French company announced the closure of a factory...

August 9, 2019 No Responses

Michelin Hike Tyre Prices

By citybusinessnews@yahoo.com — The management of Michelin on Thursday approved between two and four per cent increase in the prices of Tyre in Africa, India & Middle East region. The announcement will affect tyre prices across the commercial l...

July 27, 2019 No Responses

Michelin Records Eight Per Cent Decline In Net Income

Michelin’s firm pricing and cost-cutting lifted first-half revenue and operating earnings, the French tyre maker has said. However, the explained that profitability suffered from shrinking vehicle production. Net income fell 8% to 844 million euros ($940...

May 23, 2019 No Responses

Michelin Unveils New Technology Tyres

French Tyre maker, Michelin has launched Primacy 4ST tyres designed primarily for wet conditions. Developed on Evergrip Technology, the new tyre comes with more than 50 per cent of additional grooves to evacuate more water (when new...

May 18, 2019 No Responses

Michelin Acquires Masternaut

French tyre maker Michelin has agreed to buy telematics company Masternaut for an undisclosed amount, in a deal Michelin said would increase its presence in the field of customer services. According to Reuters, Masternaut manages over 220,0...