Groupe Michelin and Toyo Tire & Rubber Co. Ltd. have signed a licensing agreement that will give Toyo the opportunity to manufacture, promote, sell and service Michelin's PAX tire and wheel system.
"Thanks to its presence in Japan, Toyo will actively contribute to the adoption of the new (PAX) standard by Japanese carmakers, two of whom have already announced PAX system fitments for 2004," say Michelin officials.
"This agreement signed with Toyo will further accelerate the adoption of the PAX system at a time when this new technology is gaining market ground," says Herve Coyco, a member of Michelin's Executive Council.
Michelin has already licensed PAX to Goodyear Tire & Rubber Co., Sumitomo Rubber Industries Ltd. and Pirelli & Cie SpA.
Launched in 1998, PAX combines an unseatable tire, an assymetrical wheel, a run-flat support ring and a tire pressure monitoring system.
