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Michelin to acquire Camso for $1.45 billion

Staff Writer |
Michelin is bolstering its specialty business with a $1.45 billion deal to buy Camso, a Canadian producer of rubber tracks for farm equipment and snowmobiles.

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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.”

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