Michelin acquired Camso Inc for $1.45bn.

Michelin acquired Camso Inc, the Magog, Quebec-based off-road tire and rubber track producer, for $1.45bn. By joining forces with Camso, Michelin 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. As world leader, the new entity will represent more than double the net sales of Camso, supported by 26 plants and approximately 12,000 employees and will benefit from sustainably dynamic markets.