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Michelin To Buy 10 Per Cent Of Hankook

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Michelin and Hankook have signed a partnership agreement, involving co-operation in R&D, manufacturing and distribution. Hankook will be licensed to produce Michelin’s PAX run-flat technology as part of the agreement. Michelin will take a 10 per cent stake in the Korean company, which, based on the share price when the deal was signed, is estimated to be worth just over US$ 33 million.

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