Michelin completes €1.2bn acquisition of Camso

Clermont-Ferrand, France – Groupe Michelin has completed the acquisition of Magog, Quebec-based off-road tire maker Camso for $1.36 billion (€1.19 billion).

In a statement 19 Dec, the French tiremaker said the acquisition creates a leader in OTR mobility solutions, with 26 plants, roughly 12,000 employees and annual sales exceeding $2 billion.

Through studies and discussions with Camso, Michelin has identified significant opportunities to increase sales and reduce costs, thereby unlocking up to $55 million in synergies by 2021.

Camso has been described by Michelin as “market leader” in…

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