MONROVIA, Calif. (May 5, 2011)—China Manufacturers Alliance L.L.C. will be able to distribute Warrior-brand passenger and light truck tires in North America in the coming years as a result of the joint Chinese manufacturing venture CMA's parent, Double Coin Holdings Ltd., signed recently with Michelin.
The joint venture, which also involves Double Coin's parent, Shanghai Huayi (Group) Co., is pending final approval by Chinese authorities and subject to further review, CMA said. Once approved, Michelin will own 40-percent equity stake while Double Coin Holdings will hold the remainder as well as the rights to the brand.
The venture will operate a $491 million plant being built by Double Coin in Wuwei County, Anhui Province.
The companies have not said what the joint venture will be called nor disclosed what Michelin's financial contribution will be.