German auto-part maker Continental AG and French tire producer Compagnie Générale des Établissements Michelin SCA are planning to establish a joint venture linked to tire production, Reuters reported Sept. 11, citing a filing from Germany's Federal Cartel Office.
The companies also listed French agritech firm SMAG - Technological Incubator Mont Bernard as a partner, and plan to base the new business in Singapore, according to the report.
People close to Continental and Michelin reportedly noted that the venture was called Rubberway, a mobile app rolled out by Michelin in support of its policy of sustainable raw material sourcing, the news wire said.
