Michelin announced last Thursday it plans to acquire Camso for $1.45 billion. This acquisition will create a new off-the-road Michelin division.
The big news is this deal will expand Michelin’s product line to include rubber tracks. Last year, Camso had sales of $1 billion. Camso product lines include rubber tracks and rubber tires for farm equipment, construction, ATVs, utility vehicles, and more.
According to a company news release, Michelin is looking for synergies from this acquisition. Michelin is forming a new global off road division. This division will have 26 plants under their discretion.