Michelin buys stake in Gajah Tunggal

From Rubber & Plastics News

Jakarta-Groupe Michelin has bought a 10-percent share of Indonesia’s PT Gajah Tunggal Tbk., which in turn has agreed to make an undisclosed number of Michelin associated brand car tyres and to distribute selected Michelin and BF Goodrich car and light truck tyres in Indonesia.

The agreement, rumored to be in the works for some time, will benefit both companies, representatives of the new partners said. The companies did not disclose the value of the 10-percent share of Gajah Tunggal’s capital.

Gajah Tunggal, one…

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