Michelin: agreement with CFAO in Africa
(CercleFinance.com) - Michelin and CFAO have signed an agreement for the import and distribution of premium quality tyres in Kenya and Uganda in a joint venture that is 51%-owned by CFAO and 49%-owned by the Michelin, the latter announced in a statement towards lunchtime on Wednesday.
This will be jointly governed by CFAO and Michelin (equal parity).
Cette nouvelle entité opérera sur les 2 pays, qui totalisent plus de 90 millions d'habitants, distribuant des pneumatiques pour véhicules légers et camionnettes ainsi que des pneus poids lourds, deux-roues, génie civil et agricoles.
This new entity will operate in the two countries which have a total population of over 90 million people, distributing tyres for passenger cars and vans as well as tyres for HGVs, two-wheelers, civil engineering and agricultural vehicles.
In particular, the joint venture will rely on Michelin's historic partners in Kenya and Uganda.
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