11/16/2011

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Michelin divests Hankook stake; reports about potential JV with Nexen

Meanwhile another South Korean tyre maker, Nexen Tire Corp., has issued a filing to the Korean Stock Exchange, that it is exploring possibilities to cooperate with Michelin. The French tyre maker and Nexen's predecessor company, Woosung Industrial, already had been partners. From 1988 to 1992 both companies had a manufacturing joint venture in Korea.

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