French tire maker Michelin CEO under specified Sheng Leonard (Jean-DominiqueSenard) recently said that, due to rising raw material prices, the companies are now facing unprecedented pressure. Although the company has not explain when the current CEO Luo Liye retirement, but the company has appointed Sheng Nader as his successor.

    Sheng Nader believes that despite the enormous pressure of rising raw material, but Michelin's operating profit in 2011 will have risen. He reiterated the company established last October, long-term goals, including, as of 2015, the company remove the non-recurring items of operating profit to reach 2 billion euros more (about 28 billion U.S. dollars).

    Central city in France, Michelin headquarters - at the general meeting of Clermont-Ferrand, Sheng Nader said: "This year, due to rising raw material prices, Michelin will be spending 1.8 billion euros more than the costs."

    He said the company's new products have been put into production, so that the supply of raw materials the company is not to be threatened, but the fluctuations in prices of raw materials the company is still worthy of concern.

    It is reported that in April this year, Michelin had to raise prices, since the balance of rising raw material costs. It is reported that, in keeping with the trend of rising cost of raw materials was flat, the company in the next 9 months will once again prices to offset the cost of 400 million euros of its growth.

    Early May, Michelin announced that it plans to raise the price of truck tires to cope with rising raw material prices.