Michelin invests in TyreCheck provider

The Irish Independent reports Michelin has acquired an interest in Irish firm Async Technologies, Ltd., provider of the TyreCheck range of hardware and software solutions, for 2 million euros. The newspaper writes that new filings with Ireland’s Companies Registration Office show Async Technologies to have recently finalised a 2 million euro investment from the French tyre maker, who received 27,185 Async shares in return. The Irish Independent notes that these shares, valued at 74.57 euros each, give Michelin a “significant stake” in Async Technologies.

Async Technologies’ filings with the Companies Registration Office also show Michelin’s Philippe Meret to have joined the company as a director. No further details about the transaction are known at present; the Irish Independent says Async managing director Michael O’Dwyer “declined to comment” about the deal.

TyreCheck recently gained recognition within the tyre industry when the ‘sens.it’ TPMS product was given the Process Optimisation award at this year’s Reifen trade show. TyreCheck collaborated with German company Alligator Ventilfabrik in the introduction of sens.it by providing its software and database solutions as well as the programming applications.