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The report said that the Michelin Group plans to increase its business volume by at least 6.5% in 2011, and its main business will continue to increase, and further strengthen investment. Michelin will invest 1 billion euros in China to build a new plant in mid-2012; the same year, it will complete the inauguration ceremony for two plants in India and Brazil.
The French tire group Michelin recorded a record profit of 1.69 billion euros in its main business in 2010, a four-fold increase over 2009. Net profit exceeded 1 billion euros, compared with only 104 million euros in 2009. Last year due to the increase in group capital, its own capital-liability ratio fell from 53% to 20% within one year. The person in charge of the group said on Friday that due to the development of the above-mentioned results, the business growth of Michelin will be guaranteed in the next 10 years.
January 20, 2019