Michelin to makes gain on Medicare changes in U.S.

Newswire

PARIS, Dec 15 (Reuters) - French tyre group Michelin said on Thursday it would post a pre-tax gain of $317 million in its 2005 results and have annual savings of some $37 million from 2006 due to changes in its U.S. healthcare plan. The group said that its Michelin North America unit was modifying its prescription drug plans for part of its retiree base after a change in the government's Medicare programme allowed the company to offset a portion of what it called a dramatic rise in ...

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