Michelin completed the acquisition of Camso, after announcing initiation in July 2018. A total of US$1.36 billion was invested in the acquisition.
Reporting net sales of US$1 billion, Camso has been designing, manufacturing and marketing OTR mobility solutions since 1982. Camso specialises in rubber tracks for farm equipment and snowmobiles, and in solid and bias tires for material handling equipment. It also ranks high in the construction market, in track and tire solutions for small heavy equipment. Leveraging its technological leadership in tracks and related systems, it has a competitive manufacturing footprint, particularly in Sri Lanka, and strong customer awareness of its Camso and Solideal brands. Camso has grown exponentially, expanding at an average pace of 7% per year since 2012.
By partnering with Camso, Michelin aims to create a leading OTR market player, headquartered in Quebec. They expect the business to benefit from the expertise of Camso’s management team and Michelin’s long-standing presence in Canada, in both Quebec and in Nova Scotia. The new acquisition is supported by 26 plants and approximately 12,000 employees