By Carlo Martuscelli

Compagnie Generale des Etablissements Michelin (ML.FR) said Thursday that it is setting up a joint venture with Germany's Continental AG (CON.XE) and France's SMAG to develop an application to map natural rubber sustainability practices.

Yesterday, Reuters reported that the Michelin would work with the other two companies to set up a venture to produce tires, citing a document published by Germany's competition watchdog. Continental is a manufacturer of automotive parts while SMAG develops software for agricultural businesses.

Michelin said Thursday that while the collaboration will go ahead, it won't be centered on tire production, but rather on rubber sustainability software.

Further information will be made public soon, Michelin said.

Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com

(END) Dow Jones Newswires

September 12, 2019 01:27 ET (05:27 GMT)

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