Michelin sets new pricing system indexed to oil prices

Newswire

PARIS, March 21 (Reuters) - French tiremaker Michelin said on Friday that it will adjust its prices for customers in the automotive industry based on a scale indexed to changes in oil prices. Scheduled to take effect on April 1, the new price schedule will be applied to all passenger car and light truck tyres sold to automobile manufacturers worldwide, the statement said. The new system will "clearly distinguish the effects of petroleum-based raw materials from the intrinsic value of ...

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