Abstract
Michelin is a tire producing company created in 1863 by the Michelin brothers. Originally based in Clermont Ferrand, the company is now located in more than 170 countries and owns 84 production site all around the world. Even if their core business is the production of tires they diversified their activities in 1900 with the first Michelin map & guides and extend their knowledge for special sector with new type of tires such as plane tire for instance. Michelin is the second leader of tire market after Bridgestone.In 2010, they had a turnover of 17 891 millions € with an increase of 20% from 2009.
Michelin is on the stock exchange market since 1951 which means the company can increase their equity thanks to investors and at the same time stay secure and independent. In 2010, Michelin launches its biggest increase of equity introducing 27.2 million of new shares for a total amount of 1.2 billion euros helping to finance its development cost estimated at 1.6 billion euros.
