Michelin has completed its acquisition of Camso under the terms released on July 12, 2018, having obtaining all of the necessary approvals for the transaction. Michelin purchased the solid tire maker for US$1.36bn.
With net sales of US$1bn, Camso has been developing OTR mobility solutions since 1982, including rubber tracks for farm equipment and snowmobiles, solid and bias tires for material handling equipment, as well as track and tire solutions for small heavy equipment.
By joining forces with Camso, Michelin aims to create the world’s number one OTR tire producer. The business will benefit from the expertise of Camso’s management team, complemented by Michelin’s long-standing presence in Canada in Laval, Quebec, and Nova Scotia. The new entity will represent more than double the net sales of Camso, supported by 26 plants and approximately 12,000 employees.