Michelin in negotiations to buy Canadian Camso

Michelin continues on the road to external growth. The manufacturer announced Thursday morning to have entered into exclusive negotiations for the acquisition of Quebec's Camso, specializing in "off-road" equipment. An operation that will allow the manufacturer to strengthen its positions in specialty tires, one of its three major areas of activity with pbadenger and heavy-duty tires.

Third major operation

Born in the 2010 merger of Canadian Camoplast and Luxembourger Solideal, Camso employs 7,500 people in 22 plants and 3 development centers in 26 countries. It is not listed on the stock market. It specializes in certain types of tires and in rubber tracks for handling (forklift) or agricultural machinery. It also produces products for ATVs, motorcycles and snowmobiles.

While Michelin seemed to suffer from a lack of growth a few years ago, this acquisition will be its third major operation since the beginning of 2018. The group created in January a joint venture with Sumitomo, a tire distributor in North America. An operation in which he injected $ 630 million. Then he bought, in March, the British Fenner, for 1.5 billion euros. This company, which specializes in construction site treadmills, has strengthened its customer base in the mining industry and gained new skills in the field of high performance materials.

Anne Feitz