25 Jun 2007
By Sylviane de Saint-Seine, Automotive News Europe
Michelin has overcome the shock of Edouard Michelin's accidental death last year. With Michel Rollier as its new CEO, the world's largest tyre maker has resumed sales growth after four years of decline. The company heads the latest ranking of automotive suppliers by shareholder return over 12 months, published by ERJ's sister publication, Automotive News Europe.
Rollier has launched an ambitious plan to cut costs by €1500 million to €1700 million by 2010. Most of those cuts will come from western Europe and North America.
The company also wants to accelerate expansion in fast-growing markets such as China, Brazil, Russia, India and Vietnam.
Investors who bought shares in Michelin a year ago have seen the value of their stake increase by 68 percent.
Shareholders in Rubber processor, ElringKlinger have seen the value of their investment increase by 209 percent in the last three years. The German company came second in the rankings.
The market leader in automotive gaskets is benefiting from its innovation policy. The German company has launched successful new products such as heat shields and cam covers.
ElringKlinger also is developing a ceramic-based diesel particulate filter. The market for filters in Europe is expected to reach 9.5 million units a year by 2010, up from an estimated 2.6 million in 2006.
Automotive News also publishes data for three years , ElringKlinger heads tha list, with a massive 209 percent growth over that time. Continental came second over the longer period, with a growth of 200 percent. Michelin came third with 159 percent growth over three years.
From Automotive News Europe (A Crain publication)
Links to other stories about shareholder return in Automotive News Europe
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