Michelin and Camso have reached an agreement whereby Michelin will acquire Camso, headquartered in Magog, Quebec, and whereby the two companies' off-the-road (OTR) operations will be combined to form a new division to be managed from Quebec.
Reporting net sales of US$1 billion, Camso has been designing, manufacturing and marketing OTR mobility solutions since 1982.
By joining forces with Camso, Michelin says that it will create the world's number one OTR market player, headquartered in Quebec. The business will benefit from the expertise of Camso's management team and Michelin's long-standing presence in Canada, both in Laval, Quebec, and in Nova Scotia. The new entity will represent more than double the net sales of Camso, supported by 26 plants and approximately 12,000 employees.