2017 Q1 Highlights
Going further TO better serve our customers
We have the privilege of being a major player in mobility. This requires we permanently help improve it, make it more efficient, safer, calmer, more pleasant and closer to everyone’s expectations.
Our capacities for innovation today mean that we can conciliate qualities in our tires that were for a long time considered incompatible. In this way, we can always provide better solutions to specific customer expectations whatever tires they use. Today, we are going even further by guaranteeing the performance of our tires to the legal wear limit. This is good for the environment and good for our customers’ bank accounts!
Thanks in particular to digital technology, today we are both an industrial group and a service provider. With internal development and external acquisitions, our service portfolio is continuously expanding. Services simplify the life of professionals and improve mobility for our private customers in a growing number of countries.
Every day, we are committed to making mobility more responsible and more sustainable. With our suppliers we are establishing demanding relationships over the long-term, encouraging the adoption of best practices throughout the sector. More than ever we are solidly committed to establishing our products in a circular economy, one which protects the environment. This commitment was at the heart of the MOVIN’ON event which we held in Montreal. It brought everyone who is working hard for sustainable mobility together and allowed us to showcase our vision of the future.
To deliver the promise of giving everyone a better way forward, our organization is evolving and reflecting our ambitions. Relying on the simplicity, responsiveness and responsibility of our teams, this commitment must help accelerate the arrival of our innovations on the market and ensure we are closer and as available to our customers as possible. It puts us in a position to rise to all of tomorrow’s challenges, whilst remaining faithful to the vision and values which have united us and driven us for 125 years.
Michelin and Robert Parker’s Wine Advocate join forces
Michelin purchased 40% of Robert Parker’s Wine Advocate (RPWA), world leader in wine tasting and scoring. Founded by American Robert Parker in 1978, RPWA is today the international reference for wine reviews with its famous scoring system from 50 to 100 points. With this purchase, Michelin is bolstering its position on the fine food market, beginning with the Asian and North American markets.
A global reorganization project to better serve our customers
On March 16, 2017 Michelin launched a new organization project to reinforce its growth. The objective is to meet new customer expectations, improve satisfaction, simplify our operating methods and accelerate the Group’s digital technology. This new organization will encourage close relations with our customers all over the world and will focus on recruiting highly skilled professionals in high tech and digital equipment.
Michelin and Safran develop the first smart tire for planes
Inspection operations for plane tires have always been complex. PresSense, a pressure sensor integrated in the tire developed by Michelin and Safran, is changing everything. The tire’s pressure information can now be seen on a reader connected to a smartphone and a database. PresSense helps accelerate and simplify all the necessary maintenance operations.
24 Hours of Le Mans: 20/20
With its victory in the 2017 edition of 24 Hours of Le Mans, the n°2 Hybrid Porsche 919 gave Michelin its 20th consecutive win in Sarthe. 20 years of victories testifying to our Motorpsorts teams’ ability to adapt to the constant changes in regulations and vehicles. As it is every year, the 24 Hours of Le Mans race was a forum for successfully testing the latest tire innovations which will be transferred from track to road over the coming years.
Michelin TIRE CARE honored by Netexplo!
Netexplo, an independent observatory that studies the impact of digital technology on society and businesses, honored Michelin at a Change Conference held on June 16, 2017. This event recognizes the most innovative digital initiatives by big businesses in France and Michelin came first with its Michelin My Account offer, TIRE CARE. Well done to all the winners!
Michelin has purchased NexTraq, a telematics solution for utility vehicles
Michelin has purchased NexTraq, a subsidiary of FLEETCOR Technologies. NexTraq provides solutions which improve driver safety, fuel management and fleet productivity. It has around 7,000 fleet management customers and 116,000 private subscribers in North America. This purchase bolsters our presence in fleet services, currently a flourishing market.
MICHELIN’s Vision concept: the future of the wheel
We presented our concept tire for the future at MOVIN’ON in Montreal: Vision MICHELIN. It is a completely recyclable airless tire with a biodegradable and “rechargeable” tread. The tread was created on demand by 3D printing to meet road conditions. It is also smart, so its development and change can be permanently monitored. It is only made with recycled materials and creates no waste, completely in line with the concept of the circular economy.
MICHELIN ROADBIB: the farming tire that makes sense
Michelin has co-designed its new farming tire with entrepreneurs to better meet their requirements. The new MICHELIN ROADBIB tire takes into account the fact that tractors travel on the road 50% of the time. Its revolutionary tread means that more of the rubber’s surface is in contact with the road, 60% more than a traditional farming tire. This tire provides more comfort and 25% more lifespan.
MOVIN’ON: a time to act for sustainable mobility
From June 13 to 15, 2017 Michelin invited visionaries, entrepreneurs and ecological militants to Montreal for MOVIN’ON, a world forum dedicated to sustainable mobility. Everyone present had come together to propose a real vision of tomorrow’s mobility, resolutely innovative, collaborative and intelligent, safer, more efficient and of course more respectful to the environment.
Michelin and its suppliers: a high-performing, responsible and sustainable relationship
We have demanding relationships with our suppliers who must share our standards in terms of quality and responsibility. But the demands are not only one-way, as proved by the “Responsible Supplier Relations” label the Group has been awarded since 2013. It testifies to the healthy and balanced relationships we have with our suppliers. The label was renewed for 2017 by a unanimous decision from the jury.
Michelin and SIFCA join forces for a friendly takeover bid on SIPH
Through its subsidiary CFM, Michelin and the Ivoirian Company SIFCA, which until now owned 79.4% of the capital of Société Internationale de Plantation d’Hévéas (SIPH), made a friendly takeover bid to affirm their presence in natural rubber production in West Africa. They now hold 89.15% of the capital of SIPH.
SimatLab: a joint lab for modeling materials of the future
The Michelin Group and the Clermont-Ferrand Chemical Institute, which regroups the CNRS and its local university partners, are creating a joint research lab dedicated to modeling polymer materials: SimatLab. It is the third joint lab between the Group and the CNRS. SimatLab will provide reliable simulations to discover the properties of new materials and identify brand new, innovative solutions for our future products.
MICHELIN X® MULTI™: a new generation of heavy truck tires to go even further
The MICHELIN X® MULTI™ range of heavy truck tires offers short and medium haul transport contractors tires with exceptional grip in all weather conditions, a 15 to 20% increase in lifespan and the lowest cost per mile on the market. This performance was made possible by the integration of many innovations. Equipped with an RFID chip, MICHELIN X® MULTI™ tires provide access to a range of digital services for tracking operations carried out on each tire.
General Motors and Michelin: a shared vision of sustainable rubber cultivation
General Motors has published guidelines to make sure that tire suppliers privilege responsible rubber cultivation. We praise this decision which reflects our own commitments: implementation of a responsible and natural rubber policy, assessment of our suppliers’ CSR performance, mapping operators in the sector’s value chain, reforestation project in partnership with the WWF... Our approaches converge to lead all of the industry towards virtuous practices.
Long-lasting performance tires to refuse planned obsolescence
Tire performance changes throughout a tire’s life. At Michelin, we believe that a quality tire performs well until the legal wear limit and replacing it early provides no extra safety guarantees. For greater transparency, we are inviting test organizations to better inform people about the performances of worn tires. Replacing one’s tires as late as possible benefits both the environment and the consumer.
MICHELIN travel guides: a sound investment
With its 4 collections of Le Guide Vert, the Guide Vert Weekend, the Carnet and En un coup d’oeil, MICHELIN is the number one travel guide publisher in France in volume. The MICHELIN Guide Vert changed its layout this year and is focusing on contributor favorites, great deals and trips, hikes and rambles... The “En un coup d'oeil” collection enjoyed the greatest growth in sales of all publishers at the end of May (+12.6%) followed by the “Guide Vert Weekend” collection (+10%). Finally, MICHELIN travel guides have won 0.61 points of market share...the biggest increase in the sector.
Success for the extra non-dilutive convertible bond issue
Michelin announced the launch of another non-dilutive convertible bond issue refundable only in cash maturing January 10, 2022 for a nominal sum of 100 million US$. These new bonds will be issued under the same conditions as the non-dilutive convertible bonds issued by Michelin on January 10, 2017 for a sum of 500 million US$.
MICHELIN Power RS: a motorbike tire that will go down in history
MICHELIN motorbike tires have always been recognized for their performances on wet surfaces. With the new MICHELIN Power RS range, they now stand out on dry surfaces too. Designed for sports use, they use the MICHELIN Act+ technology, one of the most important innovations since the arrival of the radial motorbike tire in 1987. Available in 13 sizes for every use, the MICHELIN Power RS is ahead of all its competitors in tests.
Reputation Institute: Michelin continues to climb the ranks
The Global RepTrack annual survey carried out by the Reputation Institute asks over 60,000 people all over the world to score companies on 4 criteria: confidence, respect, admiration and familiarity. Good news for our Group...as it continues to climb the ranks. In 2017, we are 13th in the world (15th last year) and the leading automotive OEM. In France we are number 1 and the only company to score over 80 out of 100.
4 new MICHELIN mountain bike tire ranges
In terms of mountain bike tires, our philosophy of “one use, one terrain, one tire” has led us to design 4 new ranges, two dedicated to cross-country and two to all mountain. Developed with competition riders, these two ranges use cutting-edge technology and make sure that everyone can find the best performing and most suitable tire for how they ride their mountain bike.
MICHELIN CrossClimate+: better performance every season, for longer
Like its predecessor, the new MICHELIN CrossClimate+ tire provides the qualities of a summer tire plus greater traction on snow-covered ground thanks to innovative rubber, a unique tread and high performance siping. But is its performance consistent from the first to the last kilometer? The answer is yes!
Launch of the share buyback program for €100 million
In 2017, Michelin is continuing its share buyback. An investment service provider will sell a certain amount of shares to the COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN from 20th February 2017 to 24th November 2017 up to a threshold figure of €100 million for the year. The shares bought will be cancelled.
SIAM: sustainable mobility is a priority
The Monaco International Motor Show (SIAM) is highlighting ecology and innovation. An opportunity to showcase our many initiatives in this field: energy efficiency of our tires, consistent performance from first to last kilometer, our Formula-E commitment, and our support for the hydrogen sector.
MICHELIN X® FORCE™ ZL: the new genuinely tough all-terrain tire
Designed for light civilian and military vehicles (fire trucks, tactical vehicles, etc.), the new MICHELIN X® FORCE™ ZL 335/80R20 tire is the toughest of its kind. More damage-resistant, it can roll flat over 100km and can support up to 3,350kg of load per tire, which means 775kg more than its predecessor at identical performance levels!
The Michelin Group has announced a price increase of its tires by end of April 2017
Because of the increase in raw material costs, MICHELIN has announced that it is raising the price of its tires in the European and North American replacement market. This increase, which may be up to 8%, depending on the tires, for the Passenger Car & Light Truck, Truck, Earthmover, Agricultural and Two-Wheel segments, will take effect by end-April 2017. Depending on the changes in raw material costs, the Group may further adjust the price positioning of its products.
Roborace: a race for intelligence
This year there will be a driverless electric vehicle races in parallel with the Formula-E championship. Michelin is one of the three official partners to participate in the competition called “Roborace” where the vehicles must use tires that can be fitted to series-production cars, making this new championship a laboratory for vehicles of the future.
MICHELIN Pilot Sport4 S: a premium tire in every sense
Designed from our competition experience and partnerships with manufacturers, the MICHELIN Pilot Sport range is now a benchmark for sports sedans. Today it is joined by a new model, the MICHELIN Pilot Sport4S, which is ahead of all its rivals in track trials. This is a premium tire right down to its look and is available in 35 different sizes.