On September 15, according to foreign media reports, the German antitrust agency announced a merger list under review.
On the list, German Continental company and French Michelin company plan to establish a joint venture for tire manufacturing.
According to reports, the new company's headquarters will be located in Singapore.
Data show that French agricultural software company SMAG has also been listed as a partner of the project.
Michelin Tire said that the joint venture has nothing to do with tire production, but aims to further develop and deploy a mobile application called Rubberway.
The application is designed to map sustainable development practices in the natural rubber industry.
It is reported that Michelin will provide more information about the project later.
German Continental did not comment on this, but according to informed sources, the joint venture is indeed called Rubberway.
Tire World has learned that German horse brand issued a reorganization plan in March this year.
The company is currently considering whether to close several plants in the powertrain division.