Michelin exits EnTire TPMS venture

ERJ staff report (DS)

Livonia, Michigan -- Michelin has sold its stake in the EnTire Solutions, LLC company to joint venture partner, TRW Automotive. Terms of the deal were not released.

TRW and Michelin established the joint venture in 2003 to develop and manufacture direct tyre pressure monitoring systems. TRW Automotive said it acquired the stake as part of the Company's commitment to develop its portfolio of electronics systems. "TRW is committed to developing this business in a growing market. We will continue to develop the technology as a natural fit within our global electronics operations," said Ed Carpenter, vice president of TRW Automotive's Electronics business.

Carpenter continued, "This has been a successful partnership. TRW and Michelin have combined their respective expertise in electronics and tyres to develop direct tyre pressure monitoring systems that are recognised for their performance characteristics in the industry. The two companies said they would work together to assure a smooth transition.

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Press release from TRW