The French firm MICHELIN has concluded a memorandum of understanding with the German firm WOCO that should leasd to the creation of a world-wide joint-venture in the field of automobile anti-vibration systems. Called WOCO MICHELIN AVS and held to the tune of 51% by WOCO and 49% by MICHELIN, it will have subsidiaries in Germany, France, Spain, Hungary, the United States, Canada, Mexico, Brazil, South Africa and China and have a turnover of 220 million euro in 2000.