MILAN, Italy (June 23)—Pirelli S.p.A. voiced its approval of the Groupe Michelin/Goodyear run-flat tire technology joint venture announced today. Pirelli, the first company to join Michelin (in 1999) as a partner in developing the French tire maker´s Pax tire technology system, said June 23 it will share in the results of the deal, which include the integration of the Pax system´s and Goodyear´s Extended Mobility Tire´s run-flat capabilities. "The more tire manufacturers that are involved in this project, the more original equipment manufacturers will be inclined to accept this new standard," said Pirelli Group Chairman and CEO Marco Tronchetti Provera.
Pirelli backs Michelin, Goodyear joint venture
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