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Michelin increases stake in Hankook Tyres to nearly 10%

Paris - Michelin announced today that it has increased its equity investment in Hankook Tyres to nearly 10%.

Michelin acquired a 6.3% stake in Hankook Tyres in March 2006 and increased its holding to 8.9% on June 18, 2008.

In 2007, Michelin producted 191 million tires and 17 million maps and guides.

The replacement tire market, in the Passenger Car-Light Truck and the Truck markets, represents some 70% of our sales in volumes. Accordingly, before being a equipment supplier for vehicle manufacturers, Michelin is primarily a player on the consumer market for passenger cars and motorcycles and on the professional consumer goods market for light and heavy utility vehicles.

Michelin relies on its global industrial presence backed by a sales network in some 170 countries. Michelin, World Number 1 Tire Manufacturer.

Courtesy: Michelin Tyre plc, France

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Posted by Naresh Koshti on 30 June, 2008 3:13:36 PM IST #


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