CLERMONT-FERRAND, France (Jan. 29, 2004) — Group Michelin has secured a three-year agreement to supply Volvo Group with original equipment truck tires in Europe.
The deal applies to Renault and Volvo trucks assembled in Europe, the tire maker said.
“The deal comes at a time when global radial truck tire production capacity is saturated, even as demand is expected to experience growth in the future,” the company said in a statement.
Michelin North America Inc. also in 2003 signed a three-year contract to be an approved supplier for Volvo Trucks North America Inc. and Mack Trucks Inc.—both subsidiaries of Sweden's Volvo Group.
Goodyear also signed supply agreements with the North American subsidiaries, except those contracts were to be the “standard supplier,” meaning the brand is promoted by the truck maker and supplied on the vehicle unless the customer asks for a different tire. Goodyear also inked three-year agreements to supply tires to Volvo Group in Europe and Brazil, though the tire maker is one of many key suppliers on those deals.