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Compagnie Generale des Etablissements Michelin SCA (MICP.PA)

MICP.PA on Paris Stock Exchange

26 May 2017
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Latest Key Developments (Source: Significant Developments)

BRIEF-Michelin says raising European replacement tires prices
Friday, 3 Feb 2017 03:47am EST 

official correction from Michelin. Changes timing of price hike to end-April.April) Feb 3 (Reuters) - Michelin statement says: Raising the price of its tires in the European replacement market by as much as 8 percent for the Passenger Car & Light Truck, Truck, Earthmover, Agricultural and Two-Wheel segments . Hike will take effect by the end-April. .Says raising its tire prices in order to pass on the increase in raw material costs..  Full Article

Michelin launches $400 mln non-dilutive cash-settled convertible bond issue
Thursday, 5 Jan 2017 01:55am EST 

Michelin : Launches an offering of non-dilutive cash-settled convertible bonds due 2022 for $400 million . May be increased up to $500 million if the increase option is exercised in full. . Michelin intends to use the net proceeds of the issuance of the bonds for general corporate purposes . Bonds will have a nominal value of $200,000 per Bond and will not bear interest . Bonds will be issued at an issue price of 98% to 100% of their nominal value, corresponding to an annual gross yield to maturity of 0% to 0.40%, on January 10, 2017, the expected settlement date of the Bonds . Bonds will be redeemed at par on January 10, 2022 .Initial conversion price (the "Initial Conversion Price") will represent an issue premium of 23% to 28% over a Michelin Share Reference Price.  Full Article

Michelin North America says company wins defense verdict in $80 mln rollover accident suit in Florida
Friday, 26 Aug 2016 09:41am EDT 

Michelin North America:Michelin wins unanimous defense verdict in $80 million rollover accident suit in Florida.  Full Article

Aviall and Michelin announce strategic collaboration agreement
Tuesday, 12 Jul 2016 10:46am EDT 

: Aviall and Michelin announce strategic collaboration agreement ."Agreement will align Aviall's global distribution footprint with Michelin's aircraft tire business".  Full Article

Michelin invests in Chinese valet parking service
Tuesday, 14 Jun 2016 04:30am EDT 

Michelin :Says has invested in e Dai Bo, a Chinese start-up which provides valet parking services via a digital platform throughout China.  Full Article

Compagnie Generale des Etablissements Michelin SCA - Michelin shakes up European operations as competition bites - Reuters
Tuesday, 3 Nov 2015 04:02am EST 

Compagnie Generale des Etablissements Michelin SCA:Michelin said it plans to close some European plants and boost production at others in a reorganisation aimed at coping with tougher competition and the impact of years of economic crisis in the region - RTRS.The company said on Tuesday it would book a one-off impairment charge of about 280 million euros ($307 million) this year to finance the restructuring, which will cut 578 jobs in Italy, 180 in Germany and 860 in the United Kingdom over the next four years - RTRS.Michelin added that it would invest 265 million euros to modernise production facilities and its logistics network in the UK and Italy - RTRS.Michelin employs over 65,000 people at 40 production sites in Europe representing 40 percent of the group's business. The tyre maker is cutting costs and focusing on higher-end products as it faces a mounting challenge from cheaper Chinese rivals - RTRS.In Italy, Michelin said it would boost production at its Cuneo passenger car and light truck tyre site, as well as at its Alessandria new truck tyre plant. However, it said it would close its Fossano site in late 2016 due to overcapacity - RTRS.Michelin said it would ramp down its Ballymena truck tyre factory in Northern Ireland, which employs 860 people, by mid-2018. Production is expected to increase by 30 percent at its Dundee car tyre plant in Scotland - RTRS.  Full Article

Compagnie Generale des Etablissements Michelin confirms 2015 targets
Thursday, 22 Oct 2015 11:45am EDT 

Compagnie Generale des Etablissements Michelin SCA:Confirms 2015 targets.Confirms target of delivering an increase in operating income before non-recurring items excluding the currency effect, a return on capital employed in excess of 11 percent.Confirms structural free cash flow of more than 700 million euros, while pursuing a capital expenditure program totaling around 1.8 billion euros.  Full Article

Michelin and Fives create metal 3D printing JV
Monday, 7 Sep 2015 02:45am EDT 

Compagnie Generale des Etablissements Michelin SCA:Michelin and Fives create joint venture aimed at developing and marketing industrial machines and production Shops on a global scale via "metal additive manufacturing" technology - commonly known as metal 3D printing.  Full Article

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