Michelin and Camso have come to an agreement according to which Michelin will take over the company Camso based in Quebec/Canada. The OTR (off-the-road) activities of both companies are to be concentrated in a new division, which will be managed from Quebec.
Camso, which has a net turnover of one billion US dollars, has been designing, producing, and selling OTR mobility solutions since 1982. Camso is considered to be the market leader regarding among others rubber chains for agricultural devices and snowmobiles, and offers tyres for agriculture, construction machinery and materials handling. “Michelin and Camso have many common values. This takeover will be a wonderful common chance. Michelin will benefit from all the competencies, which Camso has in the markets of off-the-road mobility, and Camso from Michelin’s competence in special markets “, announces Jean-Dominique Senard, Chief Executive Officer at Michelin Group. After getting the usual approvals, Michelin will take over Camso for 1.45 billion US dollars.
(akl)
