Company uses acquisition activity to diversify its holdings
In 2021, Michelin acquired AirCaptif, a France-based start-up that develops ultra-light inflatable structures for protection and insulation. The acquisition is part of the company's "Michelin in Motion" initiative announced earlier during the year that calls for up to 30.0% of the company's total revenue to come from activities beyond its tire production. In order to achieve this growth, Michelin aims to expand across five areas: services and solutions, sustainable flexible composites, metal 3D printing, hydrogen mobility and materials for regenerative medicine.
ESG|StructuralIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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