Michelin and Volvo Sign a European Truck Tire Supply Agreement
Michelin signed a three-year agreement to supply Volvo Group with truck tires as original equipment on Renault and Volvo trucks assembled in Europe. The agreement confirms Michelin’s position as a major supplier of tires to the Volvo Group in Europe. The deal comes at a time when global radial truck tire production capacity is saturated, even as demand is expected to experience growth in the future. It is in line with Michelin’s commitment to balancing its operations in the original and replacement equipment markets in order to deliver optimal service quality across all markets, while maintaining its profitability.