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Tyre maker launches joint venture in Ethiopia

A JOINT Slovak-Ethiopian company, Matador-ATC, has recently launched tyre production in Ethiopia, representatives of Matador Púchov told the news wire TASR.

The new company, 61 percent of which Matador owns, will produce tyres for trucks and small passenger vehicles and aims to win a leading position on the Ethiopian market.

It also has plans for a possible expansion into neighbouring markets in eastern and southern Africa.

A basic agreement required for the establishment of the joint venture was signed in 2002. In April 2004, representatives of Matador Púchov and the Ethiopian Addis Tyre Company (ATC) signed a contract fully establishing the new company.

Compiled by Beata Balogová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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