Michelin warns of cutbacks unless market picks up
PARIS, April 22
PARIS, April 22 (Reuters) - Michelin will have to consider further cutbacks in Europe unless the sluggish tyre market picks up, Chief Financial Officer Marc Henry said on Monday.
"If volumes stay at the level where they are today, that would imply some restructuring," Henry said on a call for reporters and analysts after presenting the French tyremaker's quarterly sales.
"This is under scrutiny of course but nothing is decided yet," he said. (Reporting by Laurence Frost; Editing by James Regan)
- Atheists face death in 13 countries, global discrimination: study
- Missouri executes man for killing good Samaritan motorist in 1994
- Focus turns to Thai military, anti-government protesters tell them to pick sides |
- Google executives' planes saved millions in costs due to error - NASA
- Mandela signer hits back: I'm sign language champion |