AKRON and CLERMONT-FERRAND, France (June 23, 2000) — In an unprecedented agreement, Goodyear and Group Michelin announced a joint venture to cooperate in the research and development of advanced run-flat technologies. The joint venture will be based in the Netherlands.
Under the agreement, Akron-based Goodyear will license extended mobility technology and pressure-monitoring patents to Michelin, and Clermont-Ferrand-based Michelin will license its PAX run-flat system to Goodyear.
These technologies will become the foundation for the development of future generations of run-flat systems, Goodyear and Michelin said in a joint news release. The companies also said they have concluded that Michelin´s PAX system is the best platform for incorporating future tire concepts into new vehicle designs.
The joint venture, they said, will accelerate the availability of "significant new choices in run-flat tire systems" for auto manufacturers and consumers.
Meanwhile, the companies said they will promote Michelin´s PAX system to auto manufacturers and will cooperate in providing consumers easy access to aftermarket parts and services through "a global network of trained service technicians."
The PAX system, launched in 1996, features a unique bead lock and a run-flat insert, and requires a special wheel to accommodate them. Italy´s Pirelli S.p.A. also has been involved in the system´s development since early 1999.