A U T O     B U Z Z

Michelin to Acquire 10-Percent Stake in Hankook Tires

French tire maker Michelin said last January 28 that it will buy a 10-percent stake in South Korea's Hankook Tires for a strategic alliance.

Top executive from both companies signed the partnership agreement in Seoul, a statement from Michelin said.

"This agreement allows the two companies to exploit synergies in search for common opportunities to develop their respective positions in the tire market," the statement said.

[ BUZZ MAIN ]