Michelin sells stake in TPMS JV
Michelin North America Inc. has sold its stake in EnTire Solutions LLC to TRW Automotive Holdings Corp., its partner in the EnTire joint venture.
Michelin and TRW established EnTire in 2003 to develop and build tire pressure monitoring systems.
Terms of the transaction were not disclosed. TRW officials call the joint venture "a successful partnership. TRW is committed to developing this business in a growing market. We will continue to develop the technology."