Acquisition in the Tire and Track Business

September 21, 2010 06:59 AM
 

Camoplast Inc. has acquired the Solideal Group. The integrated company will operate under the name of Camoplast Solideal Inc.

Solideal and Camoplast brands will continue to be managed independently.

Solideal’s focus has been serving the tire, wheel and rubber track needs of the material handling and construction industries. The closing of the transaction is subject to regulatory approvals and is estimated to take place in October, 2010.

Camoplast Solideal Inc. will operate research, development, and manufacturing facilities in North America, Europe and Asia, with a workforce of approx. 7,400 employees.

Headquartered in Luxembourg, Solideal has research and development facilities in Europe and Asia, manufacturing sites in Europe, North America and Asia, and more than 100 distribution and service locations throughout the world. The Solideal Group employs 6,000 people worldwide, a majority of those at Solideal's manufacturing operations in Sri Lanka 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. 1,400 people worldwide. It has research and development facilities based in Canada and Korea and manufacturing sites in U.S., Canada, Korea and Europe. Camoplast Polymer Solutions is headquartered in Sherbrooke and manufactures under-the-hood components mainly, engine covers, bottles and air ducts with research centers in Canada and manufacturing sites in Canada and U.S.

For More: Camoplast

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