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Michelin Net Profits Slip

Michelin has announced a fall in net profits, from 535.5 million Euros to 154.4 million Euros for 1999. This is even lower than latest predictions of financial analysts. The figures were affected by the inclusion of a special provision of 370 million Euros, made to cover the entire cost of Michelin’s three-year restructuring plan. However, operating profit for the year rose to 1.23 billion Euros; an increase of almost 15%.

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Related news:

  1. Michelin Sales Up, Revenue Down
  2. Michelin Hosts Seminar On Rubber Tree Parasites
  3. Vipal Invests US$40 million in Mexico Retread Material Factory
  4. Information on Rubber Tree Parasite Research Published
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The Merry-Go-Round At Goodyear North America Goes On Again

Bill Sharp (59) has retired suddenly on July 14th after 36 years of Service for the tyre maker. His successor, John C. Polhemus (56) used to be President of Goodyear’s Latin America region. Marco Molinari, currently Vice President Marketing and Sales North America, becomes Vice President Global Marketing Projects. Jim Vogel, currently Director Corporate Accounts North American Tire, becomes Vice President Marketing and Corporate Accounts for North America.

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Related news:

  1. Goodyear to Supply Tyres for Airbus Aircraft
  2. CTNA Plans to End Charlotte Production
  3. Diamond Jubilee for Alcoa
  4. Vipal Invests US$40 million in Mexico Retread Material Factory
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