Michelin Investing in Emerging Markets
Michelin managing partner, Michel Rollier, has spoken of the French tyre manufacturer’s plans to invest $2 billion in increasing its capacity in emerging markets between now and 2012. French newspaper Les Echos quoted Rollier as saying "our problem is that the growth of our capacity is insufficient compared with demand" at this year’s Michelin Challenge Bibendum event in Rio de Janeiro. “We cannot equip a manufacturer in North America and tell him we're not able to do it in South America," he reportedly explained.
Michel Rollier’s comments follow suggestions from some sources that Michelin is lagging behind its main competitors when it comes to its presence in the emerging BRIC (Brazil, Russia, India and China). However, in the future BRIC countries are expected to have “an increasing share in the sales revenues of Michelin tyres,” managing partner Jean-Dominque Senard said.