Clermont-Ferrand, France - Michelin Group is to axe two production facilities in France, due to the ‘profound transformation’ of passenger-car and truck tire markets in Europe over the past decade.

Akron, Ohio – Goodyear has raised its savings target from an ongoing transformation plan to $1.5 billion (€1.37 billion), up 50% compared to the original $1 billion announced late last year.

The trading week ended 1 Nov closed lower across all markets, driven by “continued long liquidation and profit-taking that pushed prices to their lowest levels in four weeks,” JPX reported 4 Nov.