Analyze the relationship between 'Michelin' and 'tire' within the context of the input sentence.
Options: product/material produced, chief executive officer, member of, location of formation

On the downside, French tire maker Michelin (Paris: FR0000121261 - news ) fell sharply after its first-half operating profit came in lower than expected, while Norway's Statoil (Xetra: 675213 - news ) slipped into the red after it posted a 16% drop in second-quarter net profit.
product/material produced