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Michelin outlines growth plan through 2020

On Friday, Group Michelin released an overview of its strategic objectives through 2020 as part of its fall investors’ conference. Group Michelin CEO Jean-Dominique Senard presented the six major Michelin Performance and Responsibility objectives for 2020:

  1. Improve the performance of our products by at least 10% compared with 2010, while using fewer raw materials in their production.

  2. Enhance the responsible purchasing, production and supply chain processes, in particular to improve the energy efficiency of our plants and reduce our carbon footprint.

  3. Drive sustainable financial performance by delivering €1 billion in structural free cash flow per year and at least a 15% return on capital employed.

  4. Pursue Group-wide programs to improve employee engagement, well-being and development.

  5. Live in harmony with our host communities, by deploying employee-driven outreach programs and helping to create local jobs.

  6. Promote better quality of life through clean, sustainable mobility, safer roads and recycling solutions to support a circular economy.

Here is the full presentation, which includes an updated timetable for the company’s current slate of expansions. Michelin produced its first tire at its new radial truck tire plant in Chennai, India in July 2013 and expects to produce its first giant mining tire at its new plant in South Carolina by the end of 2013.

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