Camso – Tires & Parts News https://tiresandparts.net Your News Source for Everything Automotive Thu, 04 Mar 2021 18:02:39 +0000 en-US hourly 1 https://wordpress.org/?v=5.0.11 Michelin Acquires Camso in USD 1.45 Billion Deal https://tiresandparts.net/news/tires/michelin-acquires-camso-in-usd-1-45-billion-deal/ https://tiresandparts.net/news/tires/michelin-acquires-camso-in-usd-1-45-billion-deal/#respond Sun, 22 Jul 2018 14:10:15 +0000 https://tiresandparts.net/?p=23871 Michelin agreed to buy Camso, a Canadian producer of rubber tracks for farm equipment and snowmobiles, for US$1.45 billion as the French tiremaker bolsters its specialty-equipment business. The two companies’ off-road operations will be combined and run from Camso’s headquarters in Magog, Quebec, Michelin said in a statement Thursday. Closely held Camso, which also makes […]

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Michelin agreed to buy Camso, a Canadian producer of rubber tracks for farm equipment and snowmobiles, for US$1.45 billion as the French tiremaker bolsters its specialty-equipment business.

The two companies’ off-road operations will be combined and run from Camso’s headquarters in Magog, Quebec, Michelin said in a statement Thursday. Closely held Camso, which also makes tires for material-handling equipment, has sales of US$1 billion.

“This acquisition is a wonderful mutual opportunity,” Michelin Chief Executive Officer Jean-Dominique Senard said in the statement. “Michelin will benefit from all of Camso’s skills in the off-the-road mobility markets and Camso from the full range of Michelin’s expertise in the specialty markets.”

The acquisition is the second deal that Michelin has announced this year, the value of which exceeds USD 1 billion. Both these deals will allow Michelin to diversify from its core range of tires for cars and trucks. Back in March this year, Michelin had agreed to buy U.K.-based conveyor-belt manufacturer Fenner Plc in a GBP 1.2 billion deal, thus strengthening Michelin’s presence in mining equipment.

Camso is one of the top three companies in the world when it comes to making tracks and tires for construction equipment. The company has a production facility in Sri Lanka, and has grown at an average rate of 7 per cent every year from 2012.

Based on the terms of the deal, Camso is valued at USD 1.7 billion, which includes net debt. Michelin is predicting that it would be able to save as much as USD 55 million as an outcome of increase in sales and savings in costs by 2021.

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Al Saeedi Group Spotlights Camso Tires with Dealers Meet https://tiresandparts.net/news/tires/al-saeedi-group-spotlights-camso-tires-dealers-meet/ https://tiresandparts.net/news/tires/al-saeedi-group-spotlights-camso-tires-dealers-meet/#respond Fri, 11 Nov 2016 04:56:51 +0000 http://tiresandparts.net/?p=18494 Al Saeedi Group highlighted Camso tires by organizing a gettogether for Camso dealers at the Le Meridien Hotel in Dubai on October 24th. Camso tires, which were formerly known as Camoplast Solideal is made by Solideal in Sri Lanka. The gathering was attended by senior executives from Camso like Ferreol Tournebize, Camso Zone Director for […]

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Al Saeedi Group highlighted Camso tires by organizing a gettogether for Camso dealers at the Le Meridien Hotel in Dubai on October 24th. Camso tires, which were formerly known as Camoplast Solideal is made by Solideal in Sri Lanka.

The gathering was attended by senior executives from Camso like Ferreol Tournebize, Camso Zone Director for Middle East Africa and Majid Tamoutounour, Business Development Manager Middle East Africa as well as key executives from Al Saeedi Group including Anish Malattiri Director, Al Saeedi Group.

Speaking at the event, Anish Malattiri Director of Al Saeedi group said that Camso and Al Saeedi group have had a longstanding partnership over the past over 28 years and this has raised the profile of Camso products across the UAE in almost all the industrial and construction equipment segments over the past years. It has also contributed to the wide product range and success of the Al Saeedi Group.

Solideal began production of solid tires in Sri Lanka in 1984. The company was helmed by a team of achievement oriented and forward-thinking individuals who thought of making forklift tires in Sri Lanka at a time when such tires were mostly made in western countries and were primarily pneumatic. The company went on to start begin production of pneumatic tyres in 1990 in Sri Lanka, and then commenced production of wheels in 1995, to serve the needs of the material handling and construction aftermarkets.

Camoplast was set up in 1982 as a company to develop enhanced tracks for snowmobiles.The company went on to specialize in the development of belts for original equipment manufacturers (OEM) and for their aftermarket clients, as well as the development of track systems for ATV, UTV and agricultural equipment. Both Camoplast and Solideal merged in 2010 to form Camoplast Solideal and emerge as a market leader in the design, manufacture and distribution of off-road tires, wheels, rubber tracks and undercarriage systems to service the agricultural, construction, material handling and power sports industries. In 2015, Camoplast Solideal was renamed as Camso, the Road Free Company Currently, the company has over 7,500 dedicated employees spread across advanced R&D facilities and production facilities located in Europe, Asia and North and South America.

Camso manufactures products under the Solideal and Camso brands and supplies them to OEMS in addition to distributing them in the replacement market through its global distribution network.

The Al Saeedi Group in the UAE is one of the largest distributors for industrial tyres here and began its life in 1988 as a small enterprise in Dubai. The company has grown into a large group that specializes in tyre distribution and service solution and has a presence in many regions including GCC, India and African markets. The Al Saeedi Group has eight state-of-the-art service centers located in strategic areas like Al Quoz, Deira, Dubai Investment Park, Jebel Ali Free Zone, Qusais, Rashidiya and Mussafah. Al Saeedi is the exclusive distributor for several internationally renowned brands like Camso (Solideal) tires, Triangle tires, nexen tires, Sayan truck tires. The company also represents Schrader Off The Road Tyre Repairs, Rader Vogel – Vulkolan Wheels and Castors and Sicam tire equipment. The company also deals in premium tires from brands like Michelin, Bridgestone, Dunlop, Pirelli, Goodyear and Yokohama. The company has tried to enhance customer service levels with the introduction of seven mobile service units that are available 24 x 7 to cater to the needs of customers. Al Saeedi Group has received ISO 9001: 2008 accreditation for Quality Management and believes in providing top class service to all its customers from product availability to tire fitment and after sales service.

 

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