Michelin eyes profit

Three years after starting production operations on the Romanian market, French tyre maker Michelin estimates to post profit in 2004, even though it will only be operating profit for the time being. “2004 should drive Michelin Romania towards operating profit. We hope we will see a total positive result in 2005,” Juan Pradera, the company’s general manager, said. According to Pradera, Michelin reported 95-100m euros in turnover in Romania last year, up 30% from 2002. “Exports were the main growth factor. In fact, we hope to achieve similar growth this year, which will mainly be based on exports as the Romanian market is still small for us,” Pradera also said. ZF