Nexen Tire Corp. claims it has reopened talks with Groupe Michelin about a potential but undefined joint venture.
For its part, Michelin has offered no comment.
The comments were made in a June 8 filing by Nexen on the Korean Stock Exchange. In the statement, Nexen reportedly said earlier talks denied by both parties at the time between the two tiremakers did not “meet the requirements of Nexen,” the South Korean firm fully expects current talks to continue.