Faurecia: to create joint venture with Michelin
(CercleFinance.com) - The Michelin and Faurecia groups today announce that they have signed a memorandum of understanding, aiming to create a joint venture grouping all of their businesses dedicated to hydrogen fuel cells.
"Symbio, a Faurecia Michelin Hydrogen Company will be owned equally by Faurecia and Michelin. This French joint venture, built around a unique ecosystem, will develop, produce and market hydrogen fuel cell systems for light vehicles, utility vehicles, trucks and other applications;" the companies said.
This transaction is subject to approval by the relevant merger control authorities.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
"Symbio, a Faurecia Michelin Hydrogen Company will be owned equally by Faurecia and Michelin. This French joint venture, built around a unique ecosystem, will develop, produce and market hydrogen fuel cell systems for light vehicles, utility vehicles, trucks and other applications;" the companies said.
This transaction is subject to approval by the relevant merger control authorities.
Copyright (c) 2019 CercleFinance.com. All rights reserved.