Key Developments: Compagnie Generale des Etablissements Michelin SCA (MGDDF.PK)

MGDDF.PK on OTC Markets Group

109.45USD
22 Aug 2014
Price Change (% chg)

$1.10 (+1.02%)
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$108.35
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Latest Key Developments (Source: Significant Developments)

Michelin to acquire Brazilian Sascar
Monday, 9 Jun 2014 02:45am EDT 

Compagnie Generale des Etablissements Michelin SCA:Intends to acquire all outstanding shares of Sascar, Brazilian digital fleet management and freight security company, based in Sao Paulo.Sascar has 870 employees and generated FY 2013 revenue of 280 mln Brazilian reias (about 91 mln euros).Acquisition to expand Michelin service offering for truckers and to speed growth of its truck tire business in Brazil.Enterprise value of 1,600 mln reias (about 520 mln euros), includes purchase price of 1,353 mln reias (about 440 mln euros) and 247 mln reias (about 80 mln euros) in debt.Amounts to be adjusted when acquisition closes.Acquisition subject to approval from Brazilian competition authorities.  Full Article

Michelin to be new MotoGP's official tire supplier from 2016-Reuters
Thursday, 22 May 2014 08:00pm EDT 

Compagnie Generale des Etablissements Michelin SCA:Michelin to replace Bridgestone as MotoGP's official tire supplier from 2016, according to series organizers Dorna - Reuters.Bridgestone is to withdraw from that sport at end of 2015.  Full Article

Michelin launches the anti-landmine tire
Thursday, 22 May 2014 08:00pm EDT 

Compagnie Generale des Etablissements Michelin SCA:Launches the anti-landmine tire, a product designed to meet the needs of the French Army and the defense systems manufacturer MBDA.Anti-landmine tire exerts less ground pressure than a man’s footfall when fitted to a vehicle weighing over 7.5 tons.It is capable of clearing safe pathways through minefields without setting off explosions.  Full Article

Michelin acquires minority stake in SymbioFCell
Tuesday, 6 May 2014 06:38am EDT 

Compagnie Generale des Etablissements Michelin SCA:Takes part in SymbioFCell capital increase by acquiring minority stake.SymbioFCell specializes in fuel cell space.Acquisition in line with Michelin innovation strategy.  Full Article

Michelin announces closing of truck tire plant in Budapest affecting 512 employees
Monday, 5 May 2014 08:00pm EDT 

Compagnie Generale des Etablissements Michelin SCA:Announces intention to close truck tire production plant in Budapest.Plant's production of tires sold under the Taurus, Riken and Kormoran brands to be terminated in mid-2015.Individual support measures to be offered to each of 512 concerned employees.Budapest plant's production to be mainly reallocated to company facilities in Olsztyn (Poland), Zalau (Romania), Karlsruhe and Homburg (Germany).  Full Article

Michelin confirms FY 2014 outlook
Wednesday, 23 Apr 2014 11:45am EDT 

Compagnie Generale des Etablissements Michelin SCA:Confirms FY 2014 objectives of increase in EBIT.  Full Article

Michelin provides tires for Volvo Polestar
Tuesday, 8 Apr 2014 08:00pm EDT 

Compagnie Generale des Etablissements Michelin SCA:Says all new Volvo S60s and V60 Polestars will be fitted with 245/35 R 20 Michelin Pilot Super Sport tires as standard.  Full Article

Michelin launches new Pilot Road 4 motorcycle sport touring tire range
Thursday, 3 Apr 2014 08:00pm EDT 

Compagnie Generale des Etablissements Michelin SCA:Launches MICHELIN Pilot Road 4 motorcycle sport touring tire range, available in three versions: Standard, GT and Trail.MICHELIN Pilot Road 4 benefits from four company's technologies, namely MICHELIN 2 CT (Two Compound Technology) MICHELIN XST (X-Sipe Technology) MICHELIN XST+ (enhanced version of MICHELIN XST siped tread pattern) and MICHELIN 2 AT (Dual Angle Technology).  Full Article

Michelin launches new offering for tractor-trailer rigs
Thursday, 20 Mar 2014 08:00pm EDT 

Compagnie Generale des Etablissements Michelin SCA:Says new offering for tractor-trailer rigs is available.Offering comprises 315/80 R 22.5-size tires for drive axles and all positions, as well as 385/65 R 22.5 tires for trailers.New sizes extend ranges of 315/70 R 22.5 and 385/55 R 22.5 tires brought to market in early 2013.Michelin thus makes its MICHELIN X LINE Energy range available to more truckers.  Full Article

Michelin distributes FY 2013 dividend-NYSE Euronext
Tuesday, 18 Mar 2014 08:00pm EDT 

Compagnie Generale des Etablissements Michelin SCA:Proceeds to FY 2013 cash dividend distribution on ordinary shares of 2.5 euros per share - NYSE Euronext.Record date May 22.Ex-dividend date May 20.Payment date May 23.Paying agency SOCIETE GENERALE SECURITIES SERVICES.  Full Article

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