Michelin and Toyo Tire and Rubber Co.,Ltd. sign an agreement to promote PAX System

Michelin and Toyo Tire & Rubber Co.,Ltd. have signed a licensing agreement that will give Toyo the opportunity to manufacture, promote, sell and service PAX System.

The agreement signed highlights Toyo’s recognition of the quality of PAX System offer and its potential as the new standard of the tire industry. Thanks to its presence in Japan, Toyo will actively contribute to the adoption of the new standard by Japanese carmakers, two of whom have already announced PAX System fitments for 2004. Toyo also agreed to develop its distribution and after-sales service infrastructure for PAX System.

"We are pleased that Toyo shares our analysis of PAX System’s benefits in terms of safety and protection of the environment," said Hervé Coyco, member of the Michelin Group Executive Council. "This agreement signed with Toyo will further accelerate the adoption of PAX System at a time when this new technology is gaining market ground," Hervé Coyco continued.

"Entering into the license agreement allows Toyo to acquire the premiere technology in the area of run-flat systems, providing a strong competitive edge. By making full use of this emerging global standard, Toyo is confident that its tires will offer greater dependability to its customers," said Toru Matsuo, Executive Vice President of Tire Company of Toyo.

To date PAX System is developed and promoted by Michelin, Pirelli, Goodyear and Sumitomo Rubber Industries. Toyo becomes the fifth tire manufacturer to adopt PAX System.

Launched in 1998, PAX System is a combination of 4 elements: an optimized and unseatable tire, an asymmetrical wheel, a run-flat support ring that allows to keep driving at zero pressure during at least 200 km at 80 km/h and a tire pressure monitoring system.

PAX System is a major innovation which meets both carmaker and driver expectations. PAX System is the only system to offer simultaneously enhanced performance and driving pleasure, greater safety and increased mobility, while preserving the environment. For all these reasons and because it can fit all vehicle segments, PAX System is on its way to become the new standard of the tire industry.