Michelin Covers US F1 Refund Costs

Michelin’s half year financial results, published last week, include provision for the cost of reimbursing ticket holders at this year’s US F1 Grand Prix at Indianapolis, when seven Michelin-shod teams withdrew from the race. The cost, estimated at around 12 million euros, has been accounted for in the operating income figure before non-recurring items, says the company. .