Michelin to acquire Camso for $1.45 billion
The two companies’ off-road operations will be combined and run from Camso’s headquarters in Magog, Quebec, Michelin said. Camso, which also makes tires for material-handling equipment, has sales of $1 billion.
“The specialty-tire market is by far the fastest-growing,” Michelin Chief Financial Officer Marc Henry said, putting growth at around 4 percent a year.
“This merger is a perfect fit for Michelin and Camso.” ■