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    Michelin expects to begin production of passenger vehicle tires from upcoming Chennai plant in India
    Michelin expects to roll out locally produced passenger vehicle tires from its Chennai plant in India later in 2025, with plans to gradually ramp up its product portfolio to serve various segments, the Press Trust of India reported March 30. The French tiremaker is investing 5.64 billion rupees (about $65.4 million) to set up manufacturing capacity for passenger vehicle tires. "We want to bring a product that the Indian market needs. That is our first commitment," Pie...
    News
    Michelin’s FY 2024 net income declines 4.7% year over year to €1.9 billion
    Michelin’s net income declined 4.7% year over year to €1.9 billion in the financial year ended Dec. 31, 2024. The company’s net income fell in line with a 4.1% year-over-year decline in net sales to €27.2 billion. Michelin also recorded a 5.4% year-over-year decline in segment operating income to €3.4 billion, resulting in a segment operating margin of 12.4% compared with 12.6% in the previous financial year. At constant exchange rates, sales declined 3.1% year over year. Michelin a...
    News
    Brembo and Michelin form strategic partnership to enhance vehicle safety and performance
    Brembo and Michelin have entered a global partnership leveraging their collective expertise in braking solutions and tire manufacturing to revolutionize vehicle performance, focusing on enhancing driver safety and comfort. Brembo brings to the table its prowess in braking systems, vehicle modeling and AI, while Michelin contributes its expertise in tire modeling and algorithm development. The collaboration centers around the integration of Michelin's connected solutions software with Brembo's...
    News
    Beontag and Michelin collaborate for radio-frequency identification-enabled tire traceability
    Beontag, a leading supplier of self-adhesives and smart tags, including radio-frequency identification (RFID) and near-field communications (NFC), has established a strategic partnership with Michelin to integrate Beontag's technology into millions of new passenger tires over the next two years and beyond. This collaboration focuses on the introduction of an ultrahigh-frequency (UHF) embedded tag, which will allow for complete traceability of tires throughout their entire life cycle, from man...
    News
    Michelin to close two tire manufacturing plants in France by 2026, affecting 1,254 jobs
    Michelin has announced plans to close its two tire manufacturing plants, located in Cholet and Vannes in France by early 2026, affecting 1,254 employees. The French tiremaker has cited the structural transformation of the passenger car and light truck tire market, truck tire market, and the worsening competitiveness of Europe for the unavoidable plant closure. The situation has been further aggravated by low-cost Asian tire imports in the European market. “Despite the teams’ rem...
    News
    Michelin, CNRS and University of Strasbourg to jointly develop nanofibrous materials
    Michelin, the CNRS (Centre National de la Recherche Scientifique) and the University of Strasbourg have partnered to further develop electrospinning, a manufacturing process for innovative nanofibrous materials, according to an official statement April 15. The nanofibrous fiber that is reportedly "100 times thinner than a strand of hair." The teams will work over four years to design an innovative electrospinning platform, with the objective of creating innovative and differentiating fib...
    News
    Hana, Michelin partner for Link Less RFID tire-tag innovation
    Hana, an innovator in radio-frequency identification (RFID) tire-tag technology, has signed a new license agreement with Michelin, a renowned tire manufacturer, to produce and market a new and innovative Link Less embeddable RFID Tire Tag (Rev4) in and outside the tire market. This agreement builds on a legacy of collaboration dating back to 2005. It leverages Hana's expertise in RFID technology and Michelin's tire manufacturing prowess to drive innovations that will redefine t...
    News
    Michelin, Enviro and Antin finalize investment plan for first end-of-life tire-recycling plant in Sweden, creating 40 green jobs
    Majority shareholder Antin, minority shareholder Michelin and Enviro, which has the option to become a significant minority shareholder, have finalized a shared investment plan for the construction of the first end-of-life tire-recycling plant in Uddevalla, Sweden. The plant will be based on Enviro's unique pyrolysis technology and will have the capacity to recycle approximately 35,000 metric tons of used tires annually, creating up to 40 green jobs in the local community. The joint venture h...
    News
    Michelin posts 2% growth in FY 2023 sales at $30.46 billion
    Michelin reported a strong performance in 2023, delivering high segment operating income despite adverse market conditions and currencies, it said in a press release dated Feb. 12. Sales totaled €28.3 billion, up 2.0% at constant exchange rates, with mix and price offsetting unfavorable market conditions. Non-tire sales grew by 10% and tire sales volumes were down 4.7%. EBITDA for the year grew 4% at €5.5 billion, or 19.4% of sales and net income fell 1.3% to €1.98 billion. “In a chal...
    News
    European Commission launches unannounced inspections into tire industry for antitrust violations
    The European Commission is conducting unannounced inspections at various companies operating in the tire industry across several member states, according to an official press statement on Jan. 30. The commission suspects potential violations of EU antitrust rules. The inspections aim to investigate possible price coordination among the companies, including through public communications. The commission has concerns that these practices may have breached Article 101 of the Treaty on the Functio...
    News
    Michelin to halt output in Spain due to Red Sea crisis
    French tiremaker Michelin is planning to stop production at four factories in Spain again on the weekend of Jan. 20–21 due to delays in the delivery of raw materials caused by the crisis in the Red Sea, quoting the company’s Spanish subsidiary, according to a Reuters report on Jan. 16. Attacks on international shipping at the Red Sea have disrupted one of the world's most important routes. A dozen shipping lines have opted to divert ships that previously used this route via southern Afric...
    News
    Michelin to restructure operations in Germany
    Michelin has announced plans to restructure its operations in Germany, it said in a press release dated Nov. 28. It includes the gradual cessation of production at its Karlsruhe, Germany, and Trier, Germany, sites, and the discontinuation of new tire and semi-finished products manufacturing in Homburg, Germany. The Customer Contact Center in Karlsruhe will be transferred to Poland. The restructuring is expected to impact 1,532 employees and is expected to be completed by the end of 2025....
    News
    Michelin completes acquisition of Flex Composite Group
    Michelin has completed the acquisition of Flex Composite Group (FCG), it said in a press release dated September 27. The enterprise value at the time of the initial announcement in June was €700 million. The acquisition will boost the group toward developing its polymer composites activities. FCG works on a wide range of polymer composite solutions, adjacent to those already developed by Michelin. It has 400 employees and primarily operates in Europe. The acquisition will boost Michelin...
    News
    Stellantis confirms acquisition of 33.3% stake in Symbio
    European-American vehicle manufacturer Stellantis NV confirmed July 28 that it has completed the acquisition of its 33.3% stake in Symbio to become an equal shareholder in the hydrogen mobility company, along with Forvia (erstwhile Faurecia) and Michelin. According to Stellantis, acquiring an equal stake in Symbio will bolster its leadership position in hydrogen-powered vehicles by supporting fuel-cell van production in France. It also serves as a perfect complement to the company’s growing...
    News
    Michelin acquires Flex Composite Group
    Michelin is set to wholly acquire Flex Composite Group (FCG) for an enterprise value of €700 million, according to a company press release June 19. The acquisition of FCG is expected to grow Michelin’s High-Tech Materials revenue by around 20%. The transaction would be earnings before interests and taxes margin-accretive for Michelin at group level. “This operation draws on the best of both companies, in particular on our shared expertise in polymer composite solutions. We are aimi...
    News
    Stellantis to pick 33.3% stake in zero-emission hydrogen mobility firm Symbio
    In a significant development toward clearer mobility, Faurecia, a company of the Forvia group, Michelin and Stellantis announced the signing of a binding agreement for Stellantis to acquire a 33.3% stake in Symbio, a leader in zero-emission hydrogen mobility. Faurecia and Michelin will remain shareholders with 33.3% holding each, a company statement dated May 16 said. The announcement is an important initiative in the decarbonization of the mobility industry and illustrates Symbio...
    News
    MICHELIN DDi selects Otonomo to develop near-miss zone identification service in Europe
    MICHELIN Driving Data to Intelligence (DDi) has selected Otonomo to help develop its near-miss zone identification service in Europe, it said in a press release dated 2 February.  MICHELIN DDi will gather acceleration and deceleration connected vehicle data events via Otonomo Smart Mobility Data Platform to identify potential accident hot spots and help road authorities improve road safety for drivers. The service will be first offered in France. “Otonomo is an important partner in our...
    News
    Stellantis plans to acquire stake in Faurecia-backed hydrogen mobility company Symbio
    Stellantis has begun exclusive negotiations with Faurecia and Michelin to acquire a significant stake in Symbio, a Faurecia – Michelin joint-venture (JV) company focused on zero-emission hydrogen mobility, the carmaker announced on 23 December 2022. The transaction is expected to be wrapped up in the first half of 2023 and is subject to customary closing conditions, including regulatory approvals, Stellantis said. “Symbio’s technical roadmap perfectly matches with Stellantis’ ...
    News
    Bridgestone, Michelin, Pirelli to raise North American tire prices in January 2023
    News agency Tire Business reported on 2 December that leading tire manufacturers Bridgestone, Michelin, and Pirelli will be raising their tire prices in the North American market from January 2023. According to the press reports, Bridgestone Americas Inc. will raise prices on its Bridgestone, Firestone, and Fuzion passenger and light truck tires sold in the US and Canada by un undisclosed amount from 1 January 2023 Michelin North America will increase prices by up to 9%...
    News
    Tracking supplier investments and sustainability initiatives in the green EV tire market
    Demands for tires with sustainable material compositions and a high compatibility with the unique requirements associated with electric drivetrain systems has led to the creation of a new green electric vehicle (EV) tire market with leading tier-1 suppliers ramping up development and commercial availability of the specific tires across vehicle segments (conventional and high-performance), tire segments (season-specific as well as original/aftermarket), and geographical markets. While high pro...
    Insights
    Pyrowave supplies Michelin with 100% recycled styrene for tire production
    Canadian startup Pyrowave announced via press release on 17 November that it had shipped a container with approximately 3 tons of recycled styrene from its Montreal facility to Michelin’s plant in France. According to the press release, the recycled styrene will be used for the production of industrial styrene-butadiene rubber (SBR) products that will be applicable for passenger vehicle tire manufacturing. Pyrowave CEO Jocelyn Doucet discussed the strategic importance of its partnership ...
    News
    Enviro receives construction permit for planned 60,000 TPY tire recycling facility
    Scandinavian tire recycling company Enviro announced via press release on 20 October that its planned 60,000-ton-per-year tire cycling facility in Uddevalla, Sweden had received an environmental permit necessary for construction. According to the press release, the final decision on setting up the new plant will depend on factors including secured access to end-of-life tires as well secured offtake agreements for the sale of the produced recovered materials. Significance: With global tire ...
    News
    Michelin launches new passenger car tire containing 45% sustainable material
    French tire manufacturer Michelin announced via a press release on 5 October the launch of its new passenger vehicle tire with a 58% sustainable material composition. According to the press release, the new sustainable tire has been approved for road use and has performance levels equivalent to that of conventional tires. Michelin stated that it introduced sustainability in the tire through application of materials such as recycled carbon black, oils such as sunflower oil and bio-sour...
    News
    Michelin acquires road infrastructure images analysis company RoadBotics
    Michelin has acquired Roadbotics for an undisclosed amount, it said in a press release on 11 July. Roadbotics is a US-based company specialized in road infrastructure images analysis. "This new acquisition is in line with Michelin’s growth strategy around tires. With the acquisition of RoadBotics, Michelin strengthens its expertise in artificial intelligence supporting a smarter and safer mobility. Combining its unique knowledge of tire/vehicle uses, driving behavior analysis and Roadbotics...
    News
    Michelin, Carbios launch new ‘WhiteCycle’ project to recycle PET from EOL tires
    French tire manufacturer Michelin announced via press release on 5 July that it had, in collaboration with 16 other organizations, launched its new WhiteCycle project aimed at recycling PET plastic. According to the press release, the WhiteCycle project aims to foster the annual recycling of more than 2 million tons of PET plastic by 2030, reducing carbon emissions associated with the landfilling and incineration of end-of-life PET by 2 million tons. The project involves participation from...
    News
    Michelin to transfer Russian tire manufacturing activities to local management by end 2022
    French tire company Michelin announced via a press release on 28 June that it had decided to transfer its activities in Russia to local management by the end of 2022 in response to technical difficulties in resuming production. According to the press release, supply issues and issues related to general uncertainty have driven the company’s decision to transfer control of its administrative, sales, and industrial operations to the current local management that would operate the Russian site ...
    News
    Michelin acquires Indonesian sustainable natural rubber project
    French tire company Michelin announced via press release on 21 June that it had acquired a further 51% of the capital of the Royal Lestari Utama (RLU) sustainable natural rubber project from Indonesian energy company Barito Pacific Group to become the sole owner of the joint venture. According to the press release, the RLU project, launched in 2015, aims at creating the right conditions for the production of sustainable natural rubber over a 70,000 hectares region in Sumatra and a 18,000 hect...
    News
    Hyundai partners with Michelin for R&D on tire technologies
    Hyundai Motor Group has signed an memorandum of understanding (MoU) with Michelin to develop tires for premium electric vehicles (EVs), the carmaker said in a press release on 20 June. Any developments resulting from the collaboration will be used in future premium EV models from Hyundai. “This partnership with Michelin will result in real innovations in tire technology, solidifying Hyundai Motor Group’s position as a leader in the smart mobility industry. By fully leveraging our mobility...
    News
    Fallout of the Ukraine crisis on tire production and material supply chains
    On 24 February 2022, Russian forces initiated military operations in neighboring Ukraine, provoking a massive international geopolitical response aimed at financially isolating the country’s economy from the rest of the world. Western governments have since initiated wide-ranging sanctions that have cut off the country’s supply chains while simultaneously causing a large-scale exodus of international businesses from the country. While negotiations calling for a diplomatic solution to the cri...
    Insights
    Russia-Ukraine conflict: French tire maker Michelin suspends operations in Russia
    French tire manufacturer Michelin announced via press release on 15 March that it would be suspending its industrial activity in Russia as well as exportations to Russia from other countries. According to the press release, the company’s Davydovo plant in Russia that manufactures passenger car tires and retreaded truck tires mainly for the domestic market will stop operations in response to the continued crisis in the Ukrainian region. The company stated that it will continue supporting ...
    News
    Russia-Ukraine conflict: Michelin pauses production at European sites
    French tire manufacturer Michelin announced via press release on 3 February that it would be halting production at some of its European plants in response to supply-chain problems caused by geopolitical tensions in the Russia-Ukraine region. The company stated that it was facing logistical and transportation issues in supplying its plants and delivering products to its customers because of the crisis. To optimize its operations and adapt its flow management to the current situation, the compa...
    News
    Michelin releases financial results for full year 2021
    French tire manufacturer Michelin announced via press release on 14 February its financial results for the full year 2021. According to the press release, the highlights of the full year results were: The company reported sales of USD26.795 billion, an operating income of USD3.098 billion, a net income of USD2.058 billion, capital expenditure of USD1.902 billion, earnings per share of USD11.5 and a net debt of USD3.11 billion Tire volumes were up 11.8% and non-tire sales up 7.7% ...
    News
    BlackCycle recycles end-of-life tires to produce sustainable carbon black
    The BlackCycle consortium announced via press release on 22 November the world’s first production of carbon black on a conventional carbon black furnace reactor using oils derived from an end-of-life tire pyrolysis process. According to the press release, the novel production of sustainable carbon blacks (sCB), involving the use of material from end-of-life tires to create new tire rubber, introduces circularity in the tire manufacturing value chain. According to the consortium, the...
    News
    Murata and Michelin develop RFID module for tire management operations
    According to official press dated 12 December, Murata has collaborated with Michelin to develop a new generation of RFID modules that are embedded in tires. The durable passive RFID tags require no external power supply and can be driven on for extremely long distances. This simple yet elegant technology provides low-cost and simple tire traceability throughout its entire lifespan, allowing inventory logistics, aftermarket maintenance, and recycling operations to be managed. “RFID technolog...
    News
    Michelin releases financial results for Q3 FY 2021
    French tire manufacturer Michelin announced at a press release on 1 November its financial results for the third quarter of financial year (FY) 2021–22. According to the release, Michelin had sales of USD6.93 billion in the third quarter and a nine-month consolidated sales of USD19.87 billion. According to Michelin, 15.6% year-over-year (y/y) growth in its consolidated sales could be attributed to: An 8% growth in tire volumes, of which 1.3% took place in the third quarter ...
    News
    IAA Mobility 2021: Michelin showcases new tire concepts and technologies at show
    French tire manufacturer Michelin unveiled its vision for tomorrow’s mobility by showcasing its new tire concepts and technologies aimed at sustainability at the 2021 IAA Mobility Show held in Munich between 7 and 12 September. The first tire that Michelin presented at the show was the Uptis concept that features airless technology, eliminates the risk of punctures, and reduces environment impact. The company features the Uptis on a Mini Electric as an exclusive experience for members of th...
    News
    Michelin to produce EV tires in Mexico beginning in 2022
    Michelin plans to start producing tires for electric vehicles (EVs) for brands such as Tesla, BMW, Mercedes-Benz, Porsche, and Land Rover in 2022, reported Mexico Now on 27 April citing Forbes. Michelin plans to begin manufacturing in León Guanajuato site. “In our plans for the next few years is the development of a specific rim for the electric vehicle, we have launched the range at the end of last year; the volumes are quite low, but when this market starts, the Leon plant will have its ...
    News
    Michelin collaborates with Arity for connected car insights to make US roads safer
    Michelin has announced a partnership with Arity under which the companies will develop data-powered solutions for transportation departments and cities to improve road safety across the United States. According to a press release dated 6 May, the partnership will leverage MICHELIN Driving Data to Intelligence around data and driving behavior analysis, and Arity’s database of driving behavior data collected from nearly 100 million consumer connections. “With road infrastructure a priority ...
    News
    Michelin approves use of Carbios’ enzymatic plastic recycling technology in its tires
    Michelin has validated the use of Carbios’ enzymatic recycling technology for PolyEthylene Terephthalate (PET) plastic waste in its tires, according to a company press release on 23 April. Carbios confirms that its recycled PET can be used for technical fibers applications apart from other applications such as bottles and clothing fibers. Significance: Michelin’s use of Carbios’ technology is the company’s next step toward 100% sustainable tire development. PET is used as a ...
    News
    Michelin launches Pilot Sport EV tire for electric sportscars
    France-based tire manufacturer, Michelin, has announced its first tire that has been designed specifically for electric sportscars. According to a press release issued by Michelin on 25 February, the company stated that the Pilot Sport EV tires will be launched on 1 April in a choice of 16 sizes for 18- to 22-inch rims. The company has stated that it took into account the higher weight and weight-distribution characteristics associated with electric sports cars, and has designed the tire to p...
    News
    Michelin’s FY 2020 sales decline 15.2% y/y to USD24.75 billion
    France-based tire manufacturer, Michelin, has published its financial results for the full fiscal year 2020. According to a press release issued by Michelin on 15 February, the company has posted sales of EUR20.47 billion (approximately USD24.75 billion) for the FY 2020 period. This represents a drop of 15.2% year-over-year (y/y) from the EUR24.14 billion generated in net sales during the 2019 fiscal year. Michelin’s operating income also recorded a decline in FY 2020, standing at EUR1.4 bi...
    News
    Michelin to establish tire recycling facility in Chile
    French multinational tire manufacturer, Michelin, is launching construction on its first tire recycling plant in collaboration with Enviro, a Swedish company that has developed a patented technology to recover carbon black, oil, steel, and gas from end-of-life tires. According to a press release issued by Michelin on 9 February, the company stated that the plant, which will be sited in Chile’s Antofagasta region, will be able to recycle 30,000 tons of tires a year. Work will begin in 2021, ...
    News
    Michelin to slash up to 2,300 jobs in France over the next three years
    French tiremaker Michelin plans to cut up to 2,300 jobs in France over three years as part of a new simplification and competitiveness plan in the country, according to a report by Radio France Internationale on 6 January. According to the report, this action would not involve layoffs and plant closures. According to the French tire manufacturer, the 2,300 job cuts equate to almost 2% of Michelin's global workforce. "The plan is part of a broad co-construction and social dialogue approach and...
    News
    Michelin to equip all passenger car tires with RFID chip from 2023
    Michelin will equip all its passenger car tires with radio frequency identification (RFID) chips from 2023, according to a company press release on 10 December. “Tires are the car's most important safety feature. It is therefore increasingly important that the right tires are fitted to the car and that the car's computer recognizes them thanks to the RFID chip and links their information to the car's driving characteristics,” the company said in a statement. Significance: The tiremaker sa...
    News
    Michelin’s sales decline 16.8% y/y to USD17.6 billion in first nine months of 2020
    Michelin has reported a 16.8% year-on-year (y/y) decline in sales to EUR14.8 billion (USD17.6 billion) for the first nine months ended 30 September 2020, according to a company press release on 22 October. Sales in the Automotive and related distribution segment declined by 16.2% to EUR7.2 billion in the first nine months of 2020. Sales in the Road transportation and related distribution segment amounted to EUR3.8 billion in the first half of 2020, a decline of 19.9% y/y. Sales in the Specialty ...
    News
    Michelin’s H1 2020 sales fall 20.6% y/y to USD11.01 billion
    Michelin has reported a 20.6% year-on-year (y/y) decline in sales to EUR9.3 billion (USD11.01 billion) for the first six months ended 30 June 2020, according to a company press release on 27 July. Segment operating income fell by 78.4% y/y to EUR310 million. Net loss for the period amounted to EUR137 million compared with net income of EUR844 million in the same period a year ago. Segment EBITDA and operating income fell by 48% and 86.8% y/y to EUR1.1 billion and EUR177 million, respectively. ...
    News
    Connected intelligent tire: The next big push for connected mobility
    In order to create a vision of automated and accident-free driving, all parts of the vehicle need to be intelligent and connected. As such, dummy tire that provides no information about the tire itself and the road surfaces can be a barrier. Therefore, an inevitable evolution is a connected intelligent tire (CIT). What is a CIT? A tire with sensors embedded in the rubber to monitor the instantaneous status such as pressure; temperature; and even acceleration and/or strain to improve vehicl...
    Insights
    COVID-19 pandemic: Michelin restarts manufacturing operations in Mexico
    France-based tire manufacturer, Michelin, has announced that it will be restarting its facilities located in Mexico. According to a report filed by news agency Reuters on 26 May, two of Michelin’s manufacturing plants located in Mexico, which had been on temporary lockdown due to the COVID-19 pandemic, saw productions operations resume on 25 May. Significance: According to the report, Michelin stated that the Mexican government took the decision to classify the automotive ind...
    News
    COVID-19 pandemic: Michelin resumes tire production at Romanian plant
    Michelin has resumed partial production at its tire plant in Zalau, Romania, on 21 April, according to a report by SeeNews on 23 April. "The necessary sanitary measures have been implemented, in accordance with the effective legislation and our internal regulations, our priority being to protect the health and safety of our employees," Michelin officials was quoted as saying by national press agency Agerpres. Significance: Production at Michelin's other tire-production unit in Romania, in ...
    News
    COVID-19 pandemic: Michelin to gradually resume operations with necessary safety measures, says CEO
    French tire manufacturer Michelin has announced that it is preparing to restart production operations in a phased manner. According to a press statement issued by Michelin on 21 April, the company’s CEO has declared that Michelin will gradually reopen its facilities after having put the required safety measures in place. The company has stated that its production plants that manufacture tires for application in agriculture, the fire brigade, law enforcement, transport fleets, and the milita...
    News
    Michelin and Enviro develop new tire recycling technology
    French tire maker Michelin is partnering with Sweden-based Enviro to develop new tire recycling technology, according to a company press release on 15 April. The new recycling technology can be used to recycle used tires into raw materials. Under the partnership, Michelin will deploy Enviro's pyrolysis technology on a larger scale. This partnership will allow the complementary expertise of the two companies to be pooled in order to accelerate progress in tire recycling. Michelin will bring it...
    News
    COVID-19 pandemic: Michelin resumes metallic cord production in Romania
    The tire-maker Michelin is gradually resuming production at the metal cord factory in Zalau, Romania, according to a press release on DoingBusiness.ro cited from Agerpress.ro on 10 April. However, the tire plant in the same locality and the one in Floresti will remain closed for the time being, the company informs. “From 8 April, the production activity from Zalau Cord is progressively resumed. The necessary sanitary measures have been implemented, according to the legislation in force...
    News
    COVID-19 pandemic: Michelin, CEA, other industrial partners collaborate to produce reusable face mask in France
    Michelin has joined forces with The French Alternative Energies and Atomic Energy Commission (CEA) and other industrial partners to help in the production of reusable face masks in France to fight the ongoing coronavirus disease 2019 (COVID-19) pandemic, Michelin announced in a press release on 8 April. Ouvry, a France-based SME specializing in biological and chemical personal protective equipment, will manufacture and market the mask. The partners are working as part of an ecosystem formed o...
    News
    COVID-19 pandemic: Michelin partially resumes production in France
    French tire maker Michelin has partially restarted production activities in France, according to a report filed by news publication Franceinfo on 4 April. The company has restarted production at three sites located in Troyes (Aube), Puy-en-Velay (Haute-Loire) and Clermont-Ferrand (Puy-de-Dôme). According to the report, approximately 200 employees out of 9,000 in France return to their production workshop. "The company is already putting forward to restart its activities which are important f...
    News
    COVID-19 pandemic: Michelin to prepone Dundee tire plant closure in Scotland
    Michelin's passenger car tire plant in Dundee, Scotland, which was targeted for closure by June 2020, will be closed permanently due to the coronavirus disease 2019 (COVID-19) pandemic, according to a report by European Rubber Journal on 30 March. The French tire-maker will not restart manufacturing at the plant when COVID-19 lockdown restrictions are lifted. The plant closure affects approximately 845 employees, who will be paid their normal rate through the end of June, according to terms agre...
    News
    Tire pressure monitoring systems to become an increasingly prevalent feature in automobiles
    Safety has become an incredibly important priority for today’s automotive manufacturers. Vehicles are becoming increasingly powerful and more complex, and when that is coupled with improving road infrastructure in many parts of the world and a steadily rising density of automobiles, it has the potential to become a high-risk mix. Therefore, making vehicles as safe as possible is vital. Manufacturers have added a wide variety of safety features to their model lineups, and these features eventua...
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    COVID-19 pandemic: Michelin announces partial production shutdown in North America
    Michelin has announced a temporary, phased shutdown of some of its tire production facilities in the US and Canada due to the rapid spread of the coronavirus disease 2019 (COVID-19) pandemic, according to a company press release on 20 March. This phased suspension of some manufacturing began immediately and, based on the current outlook, will last for at least two weeks, according to the company. The affected production currently excludes vital and critical tires for the country's economic ...
    News
    COVID-19 pandemic: Michelin suspends production at some European factories
    Michelin has suspended production at some of its European facilities "for at least one week" due to the coronavirus disease 2019 (COVID-19) pandemic, according to a company press release on 18 March. The company has decided to close, for at least one week, its production facilities located in the European countries most affected so far by the pandemic. Michelin did not specify which plants would be closed or when they would be closed. Significance: The company is taking all measures required ...
    News
    Michelin’s FY 2019 net income up 4.2% y/y to USD1.9 billion
    French tire manufacturer Michelin has reported a 4.2% year-on-year (y/y) growth in net income to EUR1.7 billion (USD1.9 billion) for the fiscal year ended 31 December 2019, the company announced in a press release on 10 February. Operating income also grew 5.5% y/y to EUR1.6 billion. The company’s consolidated sales for 2019 stood at EUR24.1 billion, a rise of 9.5% y/y. Sales in the Automotive and related distribution reporting segment rose 4.6% y/y to EUR11.8 billion. Automotive ...
    News
    Faurecia and Michelin launch fuel-cell JV Symbio
    Faurecia and Michelin have formalized their fuel-cell 50:50 joint venture (JV) ‘Symbio’, Faurecia announced in a press release on 21 November. The JV will develop, produce and market hydrogen fuel cell systems for light vehicles, commercial vehicles, and trucks as well as for other areas of electromobility. Michelin and Faurecia will initially invest EUR140 million in the joint venture in order to accelerate the development of new-generation fuel cells, launch mass production and increase bu...
    News
    Michelin consolidated sales climb 10.4% y/y during Jan-Sept 2019 to USD 19.82 billion
    French tire manufacturer Michelin has released its most recent financial results in a statement issued on October 24th. The company’s consolidated sales for the January-September 2019 period stood at EUR17.90 billion (nearly USD19.82 billion), which represents a rise of 10.4% when compared to the same time frame of the previous year. Of this, EUR8.63 billion came from the sales generated purely by the automotive and related distribution division of Michelin, which was favoured by a positive pr...
    News
    Michelin to close Bamberg passenger car tire plant in Germany by early 2021
    French tire maker Michelin has announced the closure of their production facility in Bamberg, Germany, in the early months of 2021. The plant, which employs 858 individuals, has been in operation since 1971. Significance: The factory in Bamberg primarily produced 16-inch tires for use on passenger cars. Since 2013, the Michelin Group has invested EUR60 million in order to adapt the facility’s production output according to market developments. However, stiff competition from manufacturers i...
    News
    Michelin H1 net income drops 8% y/y to USD939.5 million
    Michelin’s net income dropped 8% year over year (y/y) to EUR844 million (USD939.5 million) in the first half ended 30 June 2019, the French tire-maker said in a press release on 25 July. The company’s operating income dropped slightly, by EUR2 million, to EUR1.35 billion. Michelin reported lower earnings despite 11.1% y/y increase in sales to EUR11.8 billion. Higher sales helped the company to record segment EBITDA of EUR2.3 billion, up 15.7% y/y. Sales in Michelin’s Automotive and...
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    Michelin supplies OE tires for 2020 Chevrolet Corvette
    Michelin is supplying Pilot Sport all-season tires as original equipment (OE) fitment for the 2020 Chevrolet Corvette, according to a report by Tire Business on 22 July. The tire-maker is supplying tires in sizes 245/35ZR19 for front and 305/30ZR20 rear. The higher-powered Z51 version is equipped with Michelin’s Pilot Sport 4S tires. Both are run-flats. Significance: Earlier this month, Chevrolet unveiled the model year (MY) 2020 Corvette Stingray with a mid-engine layout. The car is equipp...
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    Michelin supplies OE fitments for the new BMW X3 M and X4 M
    Michelin is supplying its Pilot Sport 4S* (PS4S*) summer tires as original equipment (OE) fitment for BMW’s new high-performance X3 M and X4 M models, according to a company press release last month. Michelin is supplying ultra-high-performance PS4S* tires in 255/40ZR21 102Y size for front and 265/40ZR21 105Y rear. The PS4S* tire features multi-compound tread patterns and an aramid-reinforced casing design. The front tires feature Michelin’s tri-compound technology and the rears are bi-co...
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    Michelin increases share capital in Indonesian tire-maker Multistrada to 99.64%
    Michelin has increased its ownership in Indonesia-based tire-maker PT Multistrada Arah Sarana TBK to 99.64%, the company said in a statement on 19 June. The French tire-maker reached an agreement to acquire 80% of Multistrada for USD439 million in January this year. As on 8 March 2019, Michelin had acquired 87.59% in Multistrada. Later the French tire company launched a public offer to acquire the remaining outstanding shares at the same price as it paid for buying a 87.59% stake in the Indon...
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    Michelin appoints Alexis Garcin as chairman and president of Michelin North America
    Michelin has appointed Alexis Garcin as the next chairman and president of Michelin North America, the company announced in a press release on 10 June. Garcin succeeds Scott Clark, who was recently promoted to the group executive committee as executive vice-president responsible for the global passenger car and light truck business, motorsports, experiences (including the famed Michelin Guides) and regional oversight of the Americas. In his new role, Garcin will be responsible for all key cus...
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    Michelin, General Motors collaborate on airless tire technology
    Michelin and General Motors (GM) has introduced a new generation of airless wheel/tire technology for passenger vehicles, the two companies said in a joint press release on 4 June. According to Michelin, its new Unique Puncture-proof Tire System (Uptis) eliminates flats and blowouts and offers significant potential for reducing the use of raw materials and waste.    Michelin and GM have formed a joint research agreement to validate the Uptis prototype with an aim to introducing ...
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    Michelin to acquire telematics providers Masternaut
    Michelin has reached an agreement to acquire French telematics company Masternaut, the tiremaker said on 16 May. The company will buy out the entire share capital of Masternaut. The transaction has been made on the basis of eight times 2018 EBITDA before synergies. The two companies have not disclosed further financial details of the transaction. Founded in 1996, Masternaut is one of the leading telematics providers in Europe, with a strong presence in France and the United Kingdom. The ...
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    Michelin’s Q1 sales up 11.3% y/y to USD6.5 billion
    Michelin has reported a 11.3% year-on-year (y/y) growth in sales to EUR5.8 billion (USD6.5 billion) for the first quarter ended 31 March 2019, according to a company press release on 24 April.  Segment operating income was up 1.2% y/y to EUR2.7 billion. The operating income for the year amounted to EUR2.5 billion, down 3% y/y. Sales in Automotive and Related Distribution segment amounted to EUR2.8 billion, up 0.2% y/y, and sales in Road Transportation and Related Distribution segment wer...
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    Michelin supplies self-sealing tires for Ford Explorer
    Michelin is supplying its Selfseal tires as original equipment (OE) for the all-new Ford Explorer, according to a Ford press release on 12 March. The French tire-maker is supplying Selfseal tires as standard on all-new Explorer Platinum and Explorer Limited Hybrid four-wheel-drive models, and optional on Explorer Limited two-wheel drive and four-wheel drive models. Tire size for all models is 255/55R-20. All Explorer models are equipped with a spare tire. Significance: Michelin Selfseal tires...
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    Michelin acquires majority stake in Indonesian tire-maker PT Multistada Arah Sarana
    Michelin has acquired a majority stake of 88% in Indonesia-based tire-maker PT Multistrada Arah Sarana TBK (Multistrada) for USD480 million, the French tire-maker announced in a press release on 8 March. With this transaction, Michelin will also gain a 20% stake in the successful retailer PT Penta Artha Impressi and 50 hectares of available land Significance: In January this year, Michelin had announced its plans to acquire majority stake in Indonesian tire-maker. Multistrada posted sales of ...
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    Faurecia, Michelin to set up new JV for hydrogen mobility
    French automotive suppliers Faurecia and Michelin have signed a memorandum of understanding (MOU) to set up a new joint venture (JV) for hydrogen mobility, the two companies announced in a press release on 11 March. To be named ‘SYMBIO, A Faurecia Michelin Hydrogen Company’, the JV will be held equally by Faurecia and Michelin. The JV will develop, produce and market hydrogen fuel cell systems for light vehicles, utility vehicles, trucks and other applications. "I am very pleased to have ...
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    Michelin’s 2018 net income down 2% y/y to USD1.9 billion
    Michelin has reported a 2% year-on-year (y/y) decline in net income to EUR1.6 billion (USD1.9 billion) for the fiscal year ended 31 December 2018, according to a company press release on 11 February.  Sales for the fiscal year were up marginally, by 0.3% y/y, to EUREUR22 billion. Segment operating income was up 1.2% y/y to EUR2.7 billion. The operating income for the year amounted to EUR2.5 billion, down 3% y/y. During the fiscal year 2018, Michelin’s net debt grew to EUR3.7 billion fr...
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    Renault appoints Michelin’s CEO Jean-Dominique Senard as new chairman
    French automaker Renault has appointed the current CEO of the Michelin Group Jean-Dominique Senard as its new chairman, Renault announced in a press release on 24 January. Senard’s appointment is effective 24 January, according to a Michelin press release. Senard will continue serving as Michelin CEO until his term expires in May 2019. Florent Menegaux will replace Senard as head of Michelin when Senard’s term expires as per the plan announced in February 2018. In his new role, Senard ...
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    Michelin to acquire 80% shares of Indonesian tire-maker Multistrada
    French tire-maker Michelin has signed an agreement to acquire 80% shares of Indonesia-based tire-maker PT Multistrada Arah Sarana Tbk for USD439 million, the company announced in a press release on 22 January. Michelin will pay for this acquisition from internal funds. The company also said that upon closing of the deal, it would hold a public offer to buy all remaining shares of Indonesian tire-maker at the same price, in accordance with the rules of the Indonesian capital market. In addition t...
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    Michelin JV inaugurates synthetic rubber plant in Indonesia
    PT Synthetic Rubber Indonesia (PTSRI), a joint venture (JV) between Michelin and PT Chandra Asri Petrochemical Tbk, has officially inaugurated production of synthetic rubber, Chandra Asri said in a press release on 29 November. The JV plant, located in CilegonI (Indonesia), makes butadiene rubber (BR) and solution styrene butadiene rubber (SSBR). The plant will have a production capacity of 120,000 tons of BR and SSBR per year. "Michelin's collaboration with Chandra Asri is a strategic step i...
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    Michelin plans to close tire plant in UK by 2020
    Michelin has announced its intention to close its Dundee factory in Scotland by mid-2020, according to a press release on 5 November. Michelin said that despite investment of GBP70 million in the Dundee plant in recent years, it had faced serious difficulties because of “a profound transformation of the car parc, resulting in a structural decline in the demand for premium tyres of 16-inches and smaller”. According to the company, the accelerated market transformation has made the Dundee plan...
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    Michelin’s January-September 2018 sales drops 1.1% y/y to USD18.8 billion
    Michelin has reported a 1.1% year-on-year (y/y) decline in total sales to EUR16.2 billion (USD18.8 billion) for the first nine months ended 30 September 2018, according to a company press release on 18 October.  Sales in Automotive and Related Distribution segment amounted to EUR8.3 billion, down 5.9% y/y, and sales in Road Transportation and Related Distribution segment fell 2.9% y/y to EUR4.3 billion. Sales in the company’s Specialty Businesses grew 15.2% y/y to EUR3.6 billion. In th...
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    Automotive Plastics
    The automotive industry forms a major clientele for engineering plastics, and the usage of advanced plastics has been on a steady increase for cars. The average weight of plastics and polymer composites used in a car is easily above 160 kg and is increasing. In terms of volume, these plastics account for more than 50% of the total vehicle volume. Not surprising then that the global automotive plastics market is expected to be worth over USD50 billion in annual sales value by 2024. The deman...
    Insights
    Michelin raises USD2.9 billion through three-tranche bond offerings
    Michelin has placed a three-tranche bond offering worth EUR2.5 billion (around USD2.9 billion), with 7-year, 12-year, and 20-year maturities, according to a company press release on 29 August. The French tire-maker said the bond offering was oversubscribed, "reflecting institutional investors' confidence in Michelin's credit quality." The 7-year tranche amounts to EUR750 million, carrying a coupon of 0.875% per annum. It will be issued at 99.099% of the nominal value. The 12-year tranche amou...
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    Michelin’s H1 net income up 7.2% y/y to USD1.1 billion
    Michelin has reported a 7.2% year-on-year (y/y) growth in net income to EUR925 million (USD1.1 billion) for the first half ended 30 June 2018, according to a company press release yesterday (24 July). Sales for the period declined 4.1% y/y to EUR10.6 billion. Operating income also fell by 4.9% y/y to EUR1.32 billion. The French tire-maker posted free cash flow before acquisitions in line with annual objectives, at a negative EUR79 million. Sales in Automotive and Related Distribution segment ...
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    Michelin acquires OTR vehicle tire maker Camso
    Michelin inked an agreement on 12 July to acquire Canada-based off-the-road (OTR) tire-maker Camso. According to a Michelin press release, the two companies will combine their OTR operations to form a new division that will be headquartered in Quebec, Canada. Jean-Dominique Senard, CEO of Michelin, says, “Michelin and Camso have many values in common. This acquisition is a wonderful mutual opportunity. Michelin will benefit from all of Camso’s skills in the off-the-road mobility markets a...
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    Michelin plans to manufacture all tires using 80% sustainable materials by 2048
    Michelin aims to produce all tires using 80% sustainable materials by 2048, the French tire-maker announced in a press release on 31 May. Additionally, the company said 100% tires will be recycled by that year. The world-wide recovery rate for tires is 70% today and the recycling rate is 50%, Michelin said in a statement. Presently, Michelin tires are made using 28% sustainable items, of which 26% are bio-sourced materials such as natural rubber, sunflower oil and limonene and 2% are recycled ma...
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    Michelin’s Q1 sales decline 6.3% y/y to USD6.4 billion
    Michelin’s sales declined 6.3% year over year (y/y) to EUR5.2 billion (USD6.4 billion) in the first quarter ended 31 March 2018, the French tire-maker said in a press release yesterday (25 April). Sales in Automotive and Related Distribution segment amounted to EUR2.77 billion, down 9.3% y/y, and sales in Road Transportation and Related Distribution segment fell 8.2% y/y to EUR1.36 billion. Sales in the company’s Specialty Businesses grew 5.5% y/y to EUR1.02 billion. Michelin said origina...
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    Michelin to appoint Florent Menegaux as new CEO next year
    Michelin's current chief operating officer (COO) Florent Menegaux will take over as new CEO of the French tire-maker when the term of the current CEO, Jean-Dominique Senard, comes to an end next year, according to the company’s press release on 9 February. Michelin’s current CEO recently announced that he would not stand for re-election in May 2019, when his term at the office expires. At the 2018 annual meeting, two resolutions will be submitted to shareholders; first, an extraordinary reso...
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    Michelin net income up 1.6% y/y to USD2.03 billion
    Michelin’s net income increased 1.6% year over year (y/y) to EUR1.69 billion (USD2.03 billion as on 31 December 2017) in the financial year ended 31 December 2017, the French tire-maker said in a press release on 12 February. Net sales increased 5% y/y to EUR21.96 billion, driven by higher volume and favorable price-mix effects, partially offset by unfavorable foreign exchange translations. Despite higher net sales, the company witnessed a 5.7% y/y decline in operating income to EUR2.63 billio...
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    NAIAS 2018: Michelin presents flexible wheel technology with Maxion Wheels
    French tire-maker Michelin, in partnership with Maxion Wheels, is exhibiting a flexile wheel featuring its 'Acorus' technology at the 2018 North American International Auto Show (NAIAS) in Detroit, United States, according to a company press release on 16 January. In September last year, the two companies collaborated to develop this new technology. The new patented technology for the passenger car wheel market features two flexible rubber flanges mounted on a special wheel body to create a flex...
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    Michelin plans to build new corporate office in Mexico
    French tire-maker Michelin plans to build a new corporate building in Queretaro, Mexico, reports Mexico Now. The company will invest USD10 million at the new site. "We built a new building, which has a capacity for 230 people. But we plan to increase our workforce by at least 100 people, and we needed more space," said Mike Boggs, CEO of the company in Mexico. Significance: The French tire-maker has been expanding its operations in Mexico. In August 2016, Michelin began construction of a new ...
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    Michelin appoints Scott Clark chairman, president of Michelin North America
    Michelin has appointed Scott Clark as its new chairman and president of Michelin North America, effective 1 January 2018, according to a company press release on 19 December. Clark will replace Pete Selleck, who announced his retirement, effective 31 December 2017. In his new role, Clark will be responsible for all key customer-facing functions Michelin, including sales and marketing for North America, as well as quality, technical and supply chain units. Michelin has also appointed Joanie Ma...
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    Michelin to sell 40% stake in Anhui Warrior joint venture
    Michelin will sell its 40% stake in Double Coin (Anhui) Warrior Tire Co joint venture (JV) to affiliates of the JV’s majority partner, the French tire-maker announced in a press release on 20 November. As per the equity transfer agreement signed by the partners, Michelin will sell 30% of its stake to Shanghai Huayi Group Corp, and the remaining 10% to Double Coin Tire. In a statement released by Michelin, the parties said, "In order to better focus on all parties' core strengths and to cont...
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    Michelin partners with Hyundai to develop next-generation tires for electric vehicles
    French tire-maker Michelin has partnered with Hyundai Motor to develop next-generation tires for the automaker’s future electric and luxury vehicles, Hyundai announced in a press release today. The two companies will jointly develop all-season tires to be used in Hyundai’s next-generation electric vehicles (EVs) that will roll out after 2020, including the new luxury Genesis G80 model. As a part of the deal, Hyundai will gain access to Michelin’s tire-making expertise such as research and ...
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    Reinventing the tire
    Dominant trends in the global passenger car market, such as electrification and autonomous driving, are pushing technological improvements in various component sectors of a vehicle. These include changes in the powertrain and chassis for improvements, such as fuel efficiency, traction and stability control, among other areas. However, the tire has remained relatively unchanged. However, in the past five years, global suppliers have looked to introduce what are widely called "intelligent" or "sma...
    Insights
    Michelin’s sales up 6% y/y to USD19.3 billion in January-September 2017
    Michelin has reported a 6% year-over-year (y/y) growth in net sales to EUR16.4 billion (USD19.3 billion as on 30 September 2017) for the first nine months ended 30 September 2017, the French tire-maker said in a press release. Sales in the passenger car, light truck tires and related distribution rose 4.1% y/y to EUR9.2 billion, and sales in the Truck tires and related distribution witnessed 3.7% y/y growth to EUR4.6 billion. Sales of specialty businesses totaled EUR2.5 billion, up 18.4% y/y. Fo...
    News
    Michelin acquires Lehigh Technologies
    Michelin has announced the acquisition of Lehigh Technologies, a materials company that transform rubbers from used tires and industrial goods into materials for new tires and other products. This process reduces the amount of raw materials initially needed, such as elastomers and fillers from oil- and rubber-based sources. Lehigh Technologies, based in Tucker, Ga., near Atlanta, employs about 100 people. The firm produces highly engineered, versatile raw materials called micronized rubber po...
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    Michelin supplies Pilot Sport 4 S tires for 2018 Ford Mustang GT
    Michelin is supplying its Pilot Sport 4 S high-performance summer tires for the 2018 Ford Mustang GT, the tire-maker announced in a press release yesterday (16 October). The company will supply tires in 275/40R19 size for the rear and 255/40R19 for the front. The OE fitment on Ford Mustang GT marks the North American mass-market debut of the tire. The tire is already available as OE fitment in Europe on various models. Significance: Ford worked with Michelin engineers to develop a custom tire...
    News
    Michelin plans to double tires production capacity at Indian plant
    French tire-maker Michelin plans to double truck tire manufacturing capacity at its Chennai facility from the current 15,000 tons per annum (tpa) to 30,000 tpa by the end of 2018, reports ET Auto. “About 70% of what we sell in India is produced locally. We are expanding our product portfolio. Two years from now, we will be producing locally 100% of our requirements. Currently, we are exporting some of our produce to West Asia and Europe. This will be increased,” Serge Lafon, executive vice-p...
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    EDITORIAL – Cooling raw material prices to improve tire-makers' operating margins in coming quarters
    Global tire-makers such as Goodyear, Cooper Tire, Hankook, and Kumho reported lower operating income year-on-year (y/y) for the April-June 2017 quarter citing high raw material prices as one of the main reasons. Among US-based tire-makers, Goodyear Tire & Rubber’s segment operating income declined 51.6% y/y to USD361 million and Cooper Tire’s operating income fell 31.9% y/y to USD75 million in the quarter ended 30 June. German tire-maker Continental’s said raw material prices impacted ...
    News
    Michelin completes acquisition of NexTraq
    Michelin has completed the acquisition of NexTraq, a US-based company specializing in commercial fleet telematics, Tire Review reported earlier this week. The acquisition, announced last month, was done through Michelin North America, the US subsidiary of the France-based tire-maker. Significance: Michelin North America acquired NexTraq from Fleetcore Technologies, which had bought the business about four years ago. Fleetcore decided to divest the business as it saw insufficient synergy with ...
    News
    Michelin’s H1 net income up 12.2% y/y to USD984.6 million
    Michelin has reported a 12.2% year-over-year (y/y) growth in net income to EUR863 million (USD984.6 million as on 30 June 2017) for the first six months ended 30 June 2017, the French tire-maker said in a press release. Sales for the period grew 7.5% y/y to EUR11 billion. Despite higher sales, operating income from recurring activities declined 1% y/y to EUR1.3 billion. Sales in the passenger car, light truck tires and related distribution rose 5.9% y/y to EUR6.2 billion, and sales in the Tru...
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