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Michelin Agrees to Buy Camso For $1.45 Billion

This deal will expand Michelin’s product line to include rubber tracks.
This deal will expand Michelin’s product line to include rubber tracks.
(Camso)

Michelin announced on Thursday it plans to acquire Camso for $1.45 billion. This acquisition will result in a new off-the-road division, which will be based in Magog, Quebec, Canada---Camso’s current headquarters.

This deal will expand Michelin’s product line to include rubber tracks. Last year, Camso had sales of $1 billion, and its product line spans rubber tracks and rubber bias tires for farm equipment, construction, ATVs, utility vehicles, snowmobiles and more.

According to a company news release, Michelin is looking for synergies from this acquisition, which will form the global off-the-road division that will have 2x the net sales as Camso previously. The new division will include 26 production plants and have approximately 12,000 employees.  

 

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