Michelin Romania 2007 Turnover up 10.8%

Michelin Romania has posted a 2007 turnover of 340 million euros, a 10.8 per cent increase over the sales of 306.8 million euros reported a year earlier. This growth rate is, however, lower than in previous years – at its peak Michelin Romania’s annual turnover surged by around 35 to 40 per cent.

The French manufacturer’s operations in Romania consist of two tyre manufacturing factories and a steel cord manufacturing facility, a tyre reconditioning workshop, and a local commercial network. The company entered the local market in 2001, after it acquired the Tofan Victoria Floresti plant, which manufactures car tyres, and Silvania Zalau, which produces industrial tyres. Since its market debut, the company’s investments have exceeded 220 million euros.