Michelin to buy Caisse-backed tire maker Camso for $1.45 bln
French tire maker Michelin has agreed to acquire Camso Inc, a Magog, Québec-based designer, manufacturer and marketer of off-the-road (OTR) tires and rubber tracks, for US$1.45 billion. Michelin said it will combine its OTR operations with Camso's in a new Québec-headquartered division. The division will be a leader in the global OTR sector, the company added. Camso Executive Chairman Pierre Marcouiller said the deal is backed by all of the company's shareholders. Camso's investors include Caisse de dépôt et placement du Québec. The Caisse listed the company as a top Québec private equity investment in its 2017 annual report.
12 July 2018•5 mins read
