2017 Q3 Highlights
Going further TO better serve our customers
Uncompromising quality is etched into our DNA and is a promise to our customers to give them the leading edge. We are constantly innovating – MICHELIN Vision, MICHELIN CrossClimate + and MICHELIN Acorus are just a few examples – so everyone can get ahead in their own way. Whether you’re a farmer, mine manager or fleet manager, there is a MICHELIN tire to suit your needs.
Our services are also expanding, with MICHELIN RoadConnect, MEMS4, Teleflow and others being rolled out in more and more countries. This year, the best known among them – the MICHELIN Guide – is dedicated to the excellence and diversity of the world’s chefs from Singapore to San Francisco.
Giving everyone the best way to get ahead means staying committed to creating tires that go the distance for more sustainable mobility. We will continue to support the COP23 and Movin’On initiatives in 2018. There is still much to accomplish and MICHELIN doesn’t plan
on just being a sidekick but rather a driver of innovation. We plan on taking the lead.
Michelin and Sumitomo Corporation to form second largest wholesaler in US and Mexico
To ensure better availability of their products and improved delivery to their customers in the United States and Mexico, Michelin and Sumitomo Corporation are announcing the merger of their wholesale and retail activities. This will create the second largest tyre wholesaler on North American soil, in a joint venture held in equal parts. The entity will operate under a new identity, NTW.
FIM Moto-e World Cup joins forces with MICHELIN
After MotoGP comes Formula E... Michelin becomes the official tire supplier of the FIM (International Motorcycle Federation) Moto-e World Cup, the first sports discipline for fully electric motorcycles with zero emissions and which will kick off in 2019. This will be a valuable development laboratory for innovations that will be found in the standard Michelin tires of tomorrow.
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.
MICHELIN Guide - Bangkok 2018 - For its first selection, 17 distinguished restaurants!
Michelin is pleased to unveil the first MICHELIN Bangkok guide selection, including a total of 98 restaurants. The first guide reveals the extent to which the city has attracted and developed high quality international cuisine while maintaining its own culinary heritage to attract millions of visitors from around the world.
Michelin solutions launches 4 digital services, revolutionizing fleet management
At Solutrans 2017, MICHELIN solutions presented four innovative digital services designed to help drivers and fleet managers get the most out of their assets and their businesses. MyBestRoute, chooses the best route; MyInspection, digitizes and standardizes vehicle inspections; MyTraining facilitates driver training; MyRoadChallenge makes driving fun and motivates drivers to drive safely.
MICHELIN sells its stake in Double Coin (Anhui) Warrior Tire Co. Ltd.
In order to strengthen their respective brands, Michelin and Huayi Group have decided to separate and terminate the joint venture Double Coin (Anhui) Warrior Tire Co.Ltd, established in 2011, to help the Warrior brand improve its competitiveness in the market . This transaction is in the best interests of Michelin, Double Coin and Warrior Tire Co.Ltd and will contribute to the sustainable growth of each.
MICHELIN acquires PTG and Teleflow
Michelin announces the acquisition of PTG and Teleflow, two industry leaders in the field of tire pressure monitoring systems, or remote inflation, enabling farmers to monitor and adjust their tire pressures to the terrain and conditions of use. These acquisitions demonstrate Michelin's intention to become the world leader in tire pressure variation systems in the agricultural market.
Bibendum: a new style for better communication
The Michelin Man who appears on all our tires, products and services, personifies an invitation to travel which Michelin has been offering its customers for over a century. He has always changed with the times, losing his monocle, cuff links and cigar in particular. The time has come for him to change once again. For the 9th time since his birth in 1898, the Michelin Man is evolving once again to stay faithful to his timeless modernism and to incarnate the image we want to project as an everyday partner who is discreet, considerate and reassuring. In our advertising, it leaves the leading role to our customers.
The iconic Michelin man is back on truck cabins
The brand’s symbol since 1898 and voted "best logo of the century" in 2000 by the International Financial Times jury, the iconic Michelin man is getting ready for his big comeback on the roofs of trucks. At the request of transport companies, the new moulded plastic figure with a size of 40 cm will indeed find a prominent place as a benevolent guide for drivers....
MICHELIN RoadConnect - The free app created for truckers, by truckers
With the MICHELIN RoadConnect mobile app, MICHELIN is innovating to simplify and improve the lives of heavy truck drivers. The app includes four main features: optimized journey planning; the organization of breaks, drivers can view the locations of car parks, restaurants and service stations on their routes...; the ability to voice chat to the community on private and public channels; and lastly, the ability to locate colleagues and friends to meet up for a meal...
XPO Logistics entrusts the management of its tires in Europe to MICHELIN solutions
MICHELIN Solutions has signed a major contract with XPO Logistics, one of the world's leading suppliers of transport and logistics solutions, entrusting it with the tire management of approximately 80% of its European fleet, or 17,000 vehicles. This three-year agreement is one of the largest and most complex contracts in the logistics sector.
MICHELIN unveils its new generation of civil engineering tire management systems
Michelin presents the latest generation of its tire management system for the mining industry: MEMS®4. Michelin is transforming its current offering into a comprehensive monitoring and reporting platform for tires and trucks integrating vehicle cycle analysis. This improvement was made feasible by the addition of real-time accelerometer and GPS data.
MICHELIN ACORUS: a wheel that bends but won’t break
Our engineers have developed the MICHELIN ACORUS technology to make tires safer and more resistant. Rubber expanders are fitted to a slightly narrower tire. In partnership with Maxion, world leader in wheels, today we are offering a new “flexible” wheel. It means the wheel-tire block is more shock-resistant and reduces the risks of puncture.
Michelin at the 67th Frankfurt IAA motor show
At the IAA in Frankfurt, Michelin presented several innovations for safer and more stable mobility. Presented in partnership with Maxion Wheels, MICHELIN Acorus technology helps create light and flexible wheels, making tires more shock-resistant. Developed for Renault’s Z33 concept car, the MICHELIN slimline tire combines aesthetics with energy performance thanks to a narrow tread. Finally, MICHELIN’s onboard Safe & Drive system adapts to all vehicles and provides access to a Michelin assistance platform. It is also capable of detecting collisions and automatically contacting the emergency services.
Rubberway: an app for mapping good practices in the natural rubber industry
Michelin promotes responsible and sustainable natural rubber throughout the world. To measure the application of good practices throughout the value chain - production, processing, transport - we have developed the Rubberway phone app. It picks up information on working methods from all involved in the industry, in complete transparency, encouraging genuine traceability of rubber from plantation to factory.
Concept tires: our future vision
Michelin presented its Vision wheel concept for future tires at Movin’On. This wheel was designed using our latest innovations (3D metal printing, bio-materials and smart solutions). It is an airless wheel, completely connected, with a “rechargeable” tread, produced on demand by 3D printing.
Michelin in the Fooding® era
Since 2000, the Guide du Fooding® has offered a different approach to gastronomy, which complements the Michelin Guide. Today, Michelin has acquired a 40% share in the Guide du Fooding®, establishing a natural partnership. We can now recommend exclusive and diverse gastronomic experiences to our customers.
MICHELIN Enduro: a new range with more grip for the long-term
Rocks, sand, grass... The Enduro is torture for tires. To cope with these tests, Michelin has developed a new range of Enduro bike tires, making good use of our latest innovations. The result: better grip, of course, but also an improved lifespan and greater solidity. Available in medium and hard to adapt to different terrains, they will take you even further.
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.
Climate change and water management
Michelin has been rated at the “Leadership” level by the CDP* for its transparency and performance in addressing climate change and water issues. The 2017 CDP Climate Change and Water questionnaires, returned by over 6000 companies including Michelin, are analyzed each year by the CDP on behalf of 827 institutional investors – representing over US$100 trillion in assets – as a key information tool for managing portfolio risks & opportunities related to the consequences of climate change. *formerly the Carbon Disclosure Project
Movin’On returns in 2018
The first edition of Movin’On was a great success. Bringing together the world of mobility, public authorities and start-ups, it has helped us move forward with concrete solutions for intelligent, clean and efficient mobility for all. The second edition will take place once again in Montreal, from May 30 to June 1, 2018.
The MICHELIN brand: trust and progress
For the 3rd consecutive year, the Reputation Institute, which ranks the world’s brands according to their reputation, has put Michelin at the head of the French rankings and 13th worldwide. Our reputation is based on several cornerstones: the quality of our products, the fruit of our innovation, the many services designed to make our customers’ lives easier and our commitments to a responsible future.
MICHELIN® X®TRA LOAD: record productivity for rigid dump trucks
Productivity is the number one challenge for rigid dump truck users. With the new MICHELIN® X®TRA LOAD range, we offer an increase in load capacity and an extended lifespan. Operators in quarries and mines can therefore transport a tonnage rate never reached before, continuously.
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 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 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.
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 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.
Long-term performance: what worn tire tests tell us
Until now, we had no precise information about the performances of worn tires. A series of tests carried out at the Ladoux Technological Center today sheds light on the matter. The tests revealed that a used tire reduces fuel consumption and brakes better on dry roads. On wet roads, premium used tires perform comparably to new budget tires. More generally, the performance of a new tire cannot help anticipate its future performance. Michelin therefore recommends generalizing tests of worn tires.
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.
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!
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.
Success for the non-dilutive convertible bond issue from Michelin
Michelin successfully proceeded with the placement of a non-dilutive convertible bond maturing in 2022 for a nominal sum of USD 500 million. The bonds, only redeemable in cash, will not involve the issue of new shares or the delivery of existing Michelin shares.