CLERMONT-FERRAND, France (July 27)—Groupe Michelin is discussing possible areas of cooperation with Shanghai Tyre & Rubber Co. Ltd., the company has confirmed. Negotiations have not yet led Michelin to make any firm decisions about an alliance with Shanghai, a spokesman said. The tire maker declined to comment on Chinese media reports the two companies have agreed to set up a joint venture to be majority owned by Michelin. The French company already has one venture in China—Michelin Shen Yang Tire Co.—which makes car, light truck and medium truck tires. Shanghai Tyre operates six tire plants and reports annual sales of about $500 million.
Michelin, Shanghai Tyre in talks
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