PARIS -- Michelin CEO Edouard Michelin said the French tire maker is on track for an operating profit margin of 10 percent in 2005.
Michelin's operating margin was 7.8 percent in 2002. In 1993, it was 3.2 percent.
"We set ourselves an operating margin of 10 percent as an average over the cycle," Edouard Michelin told a shareholders' information meeting.
A typical cycle in the tire industry is about five years.