Michelin eyes higher raw material prices in 2004


PARIS, Feb 24 (Reuters) - French tyremaker Michelin said on Tuesday it expected a mid-single digit rise in raw mateial prices in 2004 but said rubber prices could increase between 10 and 15 percent. "Global raw material prices will increase much less than in 2003, well below 10 percent, mid-single digit," Chairman Edouard Michelin told a news conference on the group's 2003 results. In 2003 raw material prices rose 21 percent, taking a 320 million euro bite out of Michelin's operating ...

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