French tire maker Compagnie Generale des Etablissements Michelin
SA (ML.FR) could miss its target of a 3% increase in sales volumes
in 2014 on slower demand in Europe, Brazil and Russia, Les Echos
newspaper reported citing the company's Chief Financial Officer
Marc Henry.
"The target is more difficult to reach given the current market
situation," Mr. Henry said, according to the newspaper.
He said demand for tires has stalled in Europe and is weak in
Brazil and Russia. The only healthy markets for the company are
North America and China, Les Echos reported.
At 0833 GMT, Michelin shares were down 1.9%, while the main
Paris stock index CAC-40 was down 1.2%.
Newspaper Web site: http://www.lesechos.fr
-Write to Inti Landauro at inti.landauro@wsj.com
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