Michelin Aims for Diversified Growth: Strategic M&A and Innovation

Michelin plans to reduce its industrial footprint in North America and Europe while increasing it in South and Central America by 2026. The company aims to leverage mergers and acquisitions for market access and innovation, targeting more than 20% of sales from non-tyres businesses by 2030.

Michelin: * MICHELIN-NORTH AMERICA'S WEIGHT IN THE GROUP INDUSTRIAL FOOTPRINT WILL BE REDUCED FROM 32% TO 31% AND EUROPE FROM 38% TO 36% BY 2026, SOUTH AND CENTRAL AMERICA'S WEIGHT WILL GO UP FROM 8% TO 10%-CFO

* MICHELIN WILL KEEP CONSIDERING M&A TO ACCESS NEW MARKETS AND LEVERAGE ITS INNOVATION POTENTIAL-CFO * STILL EXPECTS NON TYRES BUSINESSES TO REPRESENT MORE THAN 20% OF TOTAL SALES BY 2030, VERSUS 16% LAST YEAR-CFO

* MICHELIN'S TARGET IN DIVERSIFICATION HAS BEEN CHANGED IN ORDER NOT TO BE CAUGHT INTO "DOING STUPID THINGS" IN TERMS OF ACQUISITIONS TO REACH THE PREVIOUS TARGET-CEO * MICHELIN NOW AIMS TO HAVE NON-TYRES BUSINESS AT MORE THAN 20% OF TOTAL SALES BY 2030 VERSUS A 20-30% TARGET UNTIL NOW Further company coverage: (Gdansk Newsroom)

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