ERJ staff report (DS)
Sherbrooke, QuÃ©bec, Canada, -- Camoplast Inc. is to buy the Solideal Group, which makes tyres, wheels and rubber tracks for the world's material handling and construction industries. The transaction is subject to regulatory approvals and is expected to close in October, 2010.
The integrated company will operate under the name of Camoplast Solideal Inc. Solideal and Camoplast brands will continue to be managed independently.
The two companies are developing integration plans built on the cultural similarities, respective strengths, and the best business and product development practices.
Headquartered in Luxembourg, Solideal has R&D facilities based in Europe and Asia, manufacturing sites in Europe, North America and Asia, and over 100 distribution and service locations throughout the world. The Solideal Group employs over 6,000 people worldwide, many of whom work at Solideal's manufacturing operations in Sri Lanka (Loadstar) and China.
Camoplast Inc. is a Canadian privately-owned company that is composed of two groups: Camoplast Tracks & Systems (headquartered in Magog, Quebec, Canada) and Camoplast Polymer Solutions (headquartered in Sherbrooke, Quebec, Canada) employing approx. 1,400 people worldwide.
Camoplast Tracks and Systems is a world leader in rubber tracks and systems. It has R&D facilities based in Canada and Korea and manufacturing sites in United States, Canada, Korea and Europe.
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Press release from Camoplast