Pirot, Jan. 06, 2010 (Serbia Today) - The French company Michelin became the sole owner of the car tire factory "Tigar Tires" in mid-December 2009 by paying the last installment of the purchase price to “Tigar.” According to Dragan Nikolić, CEO of "Tigar", as reported by Beta News Agency, "Tigar" decided three years ago to sell its share in the Pirot-based factory because of global trends in the automobile industry and because it was impossible to keep the pace with Michelin in making new investments in the joint venture.
Nikolić pointed out that the factory has the same number of workers, 2,500, as it did when "Tigar" decided to sell the business. The workers have obtained a "safe sanctuary", and management is working as successfully as always.
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