Michelin and TRW Launch EnTire Solutions, LLC as 50/50 Joint Venture
Company to Provide Tire Pressure Monitoring Systems to Original Equipment Market (Passenger Cars and Light Trucks)
TOKYO - Tokyo Motor Show
Oct 23, 2003
Group Michelin and TRW Automotive today announced a joint venture to bring advanced tire pressure monitoring systems (TPMS) to market worldwide. The new joint venture, EnTire Solutions, LLC -- a natural extension of collaborative efforts over the past three years -- will concentrate on direct TPMS for passenger cars and light trucks.
Based in the United States, the joint venture will be led by Richard Wolfe, a long-time TRW executive, now CEO of the new company.
"EnTire Solutions, LLC is well positioned to be the technology leader in TPMS," said Wolfe. "With Michelin's expertise in tires, wheels and suspension systems and TRW's expertise in integrated safety systems, radio-communications and electronics, the joint venture is an attractive package to prospective customers."
Several original equipment manufacturers have already selected EnTire Solution. In fact, the first systems are currently being shipped to customers for introduction into the US market this year. Production is currently taking place within TRW's existing manufacturing base, and this will continue to be the case for future applications.
Customers who have sourced TPMS from EnTire Solutions include Asian, American and European manufacturers with global distribution.
The brand name, "EnTire Solution" was first used to market TPMS products and services jointly developed by Michelin and TRW and promoted during the past two years. The products are designed to fit most vehicles currently manufactured worldwide.
This new joint venture company will offer tire pressure monitoring systems as well as tools, parts and services to meet and exceed the expectations of the original equipment manufacturers. The new company will further ensure that vehicle manufacturers, dealers and end users have access to full aftermarket services in the field once the vehicle leaves the factory.
EnTire Solution is a direct tire pressure monitoring system. The system employs a battery-powered pressure sensor mounted on the valve stem inside the wheel. The sensor communicates tire pressure and temperature information to a vehicle-mounted receiver via a radio signal. Vehicle manufacturers can select either of the following versions of the product:
-- An advanced system: in addition to the minimum required by regulations, this system gives early information to the driver before the tire gets significantly under-inflated, allowing him/her to correct the situation with full peace of mind.
-- A simpler system: complies with applicable regulations. It signals the driver when a tire is significantly under-inflated and invites him/her to react as soon as possible.
Michelin produces and sells tires for all kind of vehicles, including passenger cars, light and heavy trucks, 2-wheels, aircraft, agricultural, earthmover vehicles, space shuttle, and develops suspension and anti-vibration systems. Michelin counts 80 production sites in 5 continents, has 130,000 employees and sales operations in over 170 countries. The Group achieved around euro 15.6 billion sales in 2002.
With 2002 sales of $10.6 billion, TRW Automotive ranks among the top 10 automotive suppliers in the world. Headquartered in Livonia, Michigan, USA, the company employs approximately 62,000 people in 23 countries. Its products include integrated vehicle control and driver assist systems, braking systems, steering systems, suspension systems, occupant safety systems (seat belts and airbags), electronics, engine components, fastening systems and aftermarket replacement parts and services. TRW Automotive news is available on the Internet at www.trwauto.com .Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20031023/DETH006 AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, email@example.com SOURCE: TRW Automotive; Group Michelin
CONTACT: In North America: Nancy Banks of Michelin, +1-864-458-6088, firstname.lastname@example.org ; or Manley Ford of TRW, +1-734-266-2616, email@example.com ; In Europe: Stephanie Gamet de Saint-Germain of Michelin, +33-1-45-66-22-22, firstname.lastname@example.org ; or Lynette Jackson of TRW, +44-121-506-5315, email@example.com
Web site: http://www.trwauto.com/