Utilize the input text as a context reference, choose the right relationship between Michelin and tire from the options. Options: product/material produced, manufacturer, distributed by, industry, position held, original broadcaster, owned by, founded by, distribution format, headquarters location, stock exchange, currency, parent organization, chief executive officer, director/manager, owner of, operator, member of, employer, chairperson, platform, subsidiary, legal form, publisher, developer, brand, business division, location of formation, creator.

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_or_material_produced