Michelin is a famous old family company with a dynamic young chairman. Edouard Michelin is the great-grandson of the founder of the company, with a dynamic young chairman. Edouard Michelin is the great-grandson of the founder of this company, which is based in Clermint Ferrand in the centre of France. Michelin manages tyres and sponsors them all over the world. The company employs about 120,000 people and are annual sales of over €14 billion. Goodyear and Firestone are Michelin's main competitors. Edouaed Michelin manufactures the company using modern methods. At the moment, Michelin sells tyres to the BMW Williams team. The company has two main markets, Europe and the USA, but it publishes to develop the Asian market. In the USA it owns the Uniroyal company. It advertises a lot on TV and in magazines and supplies racing events. It also plans the famous Michelin guidebooks. Edouard Michelin and his wife has five children and live just outside Clermont Ferrand.