Michelin’s growing speciality tyres business helps manufacturer register positive 2018 result
Michelin sales rose by 0.3 per cent in 2018 to more than 22 billion euros, while operating income increased by 1.2 per cent.
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Michelin completes Fenner PLC acquisition
The sale of Fenner PLC to Michelin has been finalised following the deal’s approval by shareholders and relevant legal bodies earlier this month. Following delivery of the scheme of arrangement (under Part 26 of the United Kingdom’s Companies Act 2006) to the Registrar of Companies today, Fenner has become a wholly-owned subsidiary of Michelin. John Pratt, chief financial officer of Fenner, has been appointed Fenner’s new chief executive officer.
Michelin to acquire Fenner PLC
Stating that such an acquisition would be “in perfect strategic alignment with its ambition to leverage its expertise in high-technology materials,” Michelin has announced its intention to purchase UK-based firm Fenner PLC.
