PARIS, March 25 Michelin, the world's
second-largest tyremaker, could seek more cost cuts to cope with
a prolonged slump in car sales in Europe, French daily Les Echos
said on Monday.
"We are not ruling out anything," Florent Menegaux, director
of the passenger car and light truck products division, was
quoted saying by the paper.
"We must think about the market's evolution, assess whether
the situation will last."
Michelin, which employs 63,000 people in Europe, met with
union representatives on March 7 to discuss the future of its
French plants, but did not make any announcements.
In France, the CFE-CGC and CFDT unions signed a three-year
labour flexibility agreement on March 13 aimed at adapting
production and employment to periods of lower demand.
Michelin said the European market for passenger car and
light truck tyres fell 13 percent in February after declining 14
percent in January.
(Reporting by Dominique Vidalon; Editing by David Holmes)