CLERMONT-FERRAND, France (Dec. 19, 2001)—Group Michelin plans to form a joint venture with Yugoslav tire maker Tigar A.D. to produce and market tires and tubes. The companies signed an agreement Dec. 13 to set up the venture under new Yugoslavian Company Law provisions.
The venture builds on a relationship dating back to 1978, when Tigar and BF Goodrich—now part of Michelin—entered a similar agreement under then legislation in the country.
“After a 23-year-old successful relationship, the parties wish to continue their collaboration in the frame of a joint venture, now that Yugoslavian Company Law makes it possible,” according to a Michelin statement.
Tigar, employs around 1,125 at its plant in Pirot, Serbia, which has a capacity of 11,700 units/day. The firm's output covers car, light truck, truck, agricultural and industrial tires.