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Michelin sees raw materials prices remaining stable in 2007


Published : Fri, 11 May 2007 10:44
By : Agencies
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CLERMONT-FERRAND (Thomson Financial) - Michelin chief financial officer Jean-Dominique Senard said raw material prices should be stable in 2007, although they will remain at high levels.

'2007 should be more relaxed, we should see stable raw material prices', Senard said at the group's AGM in Clermont-Ferrand, but he also warned that the group will have to contend with high prices for the foreseeable future.

In 2006, Michelin saw a 26.2 pct rise year-on-year in the price of its raw materials.

vicky.buffery@thomson.com

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