Skip to main content
Sister Publication Links
  • Rubber News
  • European Rubber Journal
Subscribe
  • Login
  • Register
  • Subscribe
  • Current Issue
  • BEST PLACES TO WORK
  • News
    • HUMANITARIAN
    • TIRE MAKERS
    • COMMERCIAL TIRE
    • GOVERNMENT & LAW
    • MERGERS & ACQUISITIONS
    • OBITUARIES
    • OPINION
    • MID YEAR REPORT
    • SERVICE ZONE
  • ADAS
  • Data
    • DATA STORE
  • Custom
    • SPONSORED CONTENT
  • Resources
    • Events
    • DIRECTORY
    • CLASSIFIEDS
    • SHOP FLOOR
    • AWARDS
    • ASK THE EXPERT
    • LIVESTREAMS
    • WEBINARS
    • SEMA LIVESTREAMS
    • RUBBER NEWS EVENTS
    • BALANCING
    • DEMOUNTING
    • SAFETY
    • TIRE REPAIR
    • TPMS
    • TRAINING
    • VEHICLE LIFTING
    • WHEEL TORQUE
    • Best Places to Work
  • ADVERTISE
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. News
April 09, 2002 02:00 AM

Michelin employees can become shareholders

Tire Business Staff
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    CLERMONT-FERRAND, France (April 9, 2002)—Beginning April 11, Group Michelin Group employees will have the opportunity to become Michelin shareholders under preferential conditions. From April 11-30, employees worldwide will have a chance to buy shares at discounted prices, starting at 50 percent for the first 10 shares, 33 percent for the next 10 and 20 percent for shares over 20.

    Michelin employees in the U.S. will get a further incentive: Michelin North America Inc. will discount the reference price of $38.50 by 20 percent, to $30.80, before the subscription discounts take effect.

    “We see this as a great opportunity for employees,” said Jim Micali, president and chairman of Michelin North America, in a prepared statement. “By setting up a worldwide Employee Shareholding Plan, Michelin wishes to strengthen even further our existing relationship between the employees and the company and to associate them more closely with the development of the Michelin Group, worldwide.”

    Employees who participate in this plan will become direct shareholders, entitled to all the rights of a shareholder, including direct access to economic and financial information sent by Michelin to its shareholders, the company said.

    The offer is being made initially in 16 of the 56 countries where Michelin does business; a second phase will be made available in 2003 to employees in the remaining countries, subject to technical and regulatory approvals. Michelin is arranging for interest-free installments, spread over 12 months, to facilitate purchases. The offer was designed to be within everyone´s reach, whatever the economic conditions in all the countries concerned, Michelin said.

    Michelin has 100,000 employees worldwide, 26,500 of whom are in North America.

    Letter
    to the
    Editor

    Do you have an opinion about this story? Do you have some thoughts you'd like to share with our readers? Tire Business would love to hear from you. Email your letter to Editor Don Detore at [email protected].

    Most Popular
    1
    Tire Discounters grows again, adds Skip Cottrell's
    2
    Icahn-owned Auto Plus files for Chapter 11 protection
    3
    Truck sector leads U.S. tire market; consumer down
    4
    K&M welcomes dealers to annual conference in Vegas
    5
    Black's Tire Service holds leadership conference
    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Newsletter Center

    Staying current is easy with Tire Business delivered straight to your inbox.

    SUBSCRIBE TODAY

    Subscribe to Tire Business

    SUBSCRIBE
    Connect with Us
    • Facebook
    • LinkedIn
    • Twitter
    • Instagram
    • RSS

    Our Mission

    Tire Business is an award-winning publication dedicated to providing the latest news, data and insights into the tire and automotive service industries.

    Reader Services
    • Staff
    • About Us
    • Site Map
    • Industry Sites
    • Order Reprints
    • Customer Service: 877-320-1716
    Partner Sites
    • Rubber News
    • European Rubber Journal
    • Automotive News
    • Plastics News
    • Urethanes Technology
    RESOURCES
    • Advertise
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Media Guide
    • Editorial Calendar
    • Classified Rates
    • Digital Edition
    • Careers
    • Ad Choices Ad Choices
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • BEST PLACES TO WORK
    • News
      • HUMANITARIAN
      • TIRE MAKERS
      • COMMERCIAL TIRE
      • GOVERNMENT & LAW
      • MERGERS & ACQUISITIONS
      • OBITUARIES
      • OPINION
      • MID YEAR REPORT
      • SERVICE ZONE
    • ADAS
    • Data
      • DATA STORE
    • Custom
      • SPONSORED CONTENT
    • Resources
      • Events
        • ASK THE EXPERT
        • LIVESTREAMS
        • WEBINARS
        • SEMA LIVESTREAMS
        • RUBBER NEWS EVENTS
      • DIRECTORY
      • CLASSIFIEDS
      • SHOP FLOOR
        • BALANCING
        • DEMOUNTING
        • SAFETY
        • TIRE REPAIR
        • TPMS
        • TRAINING
        • VEHICLE LIFTING
        • WHEEL TORQUE
      • AWARDS
        • Best Places to Work
    • ADVERTISE
    • DIGITAL EDITION