Michelin aims to double sales in Asia

CLERMONT-FERRAND, France (May 30)—Groupe Michelin intends to more than double its sales base in Asia in the next five years as it seeks to become the No. 2 tire maker there, Michelin Chairman Edouard Michelin told shareholders at the company´s annual general meeting. But Michelin did not divulge details about his firm´s plans to get there. Michelin claims to be No. 4 in Asia, with a 5.5-percent market share. Overall, the company is seeking to increase its profitability to 10 percent of sales throughout the next five years, Michelin said, while increasing sales at least 2 percentage points above overall market growth.