Camso
{{Short description|Canadian automotive parts manufacturing company}}
{{Use Canadian English|date=January 2023}}
{{Infobox company
| name = Camso Inc.
| type = Subsidiary
| key_people = {{ubl
|Pierre Marcouiller (Executive chairman of the Board)
|Thomas Boettcher (president and CEO)
}}
| industry = Manufacturing
| products = Tires, tracks, track systems
| revenue =
| num_employees = 8000
| footnotes =
| foundation = {{start date and age|1982}}
| location = Magog, Quebec, Canada
| parent = CEAT
| homepage = {{URL|https://camso.co}}
}}
Camso Inc., formerly known as Camoplast Solideal, is a Canadian company that is a manufacturer and service supplier of products for off-the-road vehicles. They serve the material handling, construction, agriculture and powersport industries. Camso manufactures and distributes pneumatic, airless and solid tires, tracks, driven and trailed conversion track systems and OEM undercarriages. The company was founded in 1982, and is based in Magog, Quebec, Canada. It also has branches and manufacturing plants in America, Asia and Europe. Camso research centers are in Magog, Ghent, Colombo, Shanghai, and Ho Chi Minh City, and has a global workforce of more than 8000 employees.
History
In 1982, Normand Carpentier{{in lang|fr}} [http://collections.banq.qc.ca:81/lapresse/src/cahiers/1979/11/06/03/82812_1979110603.pdf#page=4 "Avis de nomination : Pierre Larivière"] {{Webarchive|url=https://web.archive.org/web/20151222130211/http://collections.banq.qc.ca:81/lapresse/src/cahiers/1979/11/06/03/82812_1979110603.pdf#page=4#page=4 |date=2015-12-22 }}, La Presse, Montreal, 6 November 1979. and Michel Lasalle acquired four Bombardier divisions, including Roski Ltd., and founded Camoplast Inc.
in December 2004, Camoplast purchased the industrial vehicles division of Bombardier Recreational Products{{cite news|title=BPR cède sa division de véhicules industriels à Camoplast|newspaper=Le Devoir|location=Montreal|url=https://www.ledevoir.com/economie/60468/bpr-cede-sa-division-de-vehicules-industriels-a-camoplast|date=August 3, 2004
|access-date=June 25, 2011|language=French|trans-title=BPR sells its industrial vehicles division to Camoplast}} Bombardier manufactured snow and all-terrain vehicles with rubber tracks from the 1950s. The industrial vehicles division, based in Granby, Quebec, made tracked utility vehicles such as snowcats, sidewalk snow removal tractors and Tracked Utility Vehicles, including the descendant of the original Bombardier Muskeg tractor.{{Cite web|url=https://www.canplastics.com/features/camoplast-buys-segment-of-bombardier/|title=Camoplast Buys Segment of Bombardier|website=Canadian Plastics|date=December 2004 }}
In November 2005, Camoplast sold the design, engineering, R&D, service, parts and sales operations of the snow groomer range of its Industrial vehicles Division to Leitner Group which will be marketed as Prinoth, with Camoplast handling the manufacturing.{{Cite web|url=https://www.saminfo.com/headline-news/6143-4661-438-prinoth-takes-over-camoplast-grooming|title=Prinoth Takes Over Camoplast Grooming|website=www.saminfo.com|date=12 October 2005 }}
In February 2009, Camoplast sold the remaining Industrial Vehicles division operations to Leitner Group including development, design, sales, service and vehicle production to Prinoth.{{Cite web|url=https://www.saminfo.com/headline-news/6865-5391-548-prinoth-acquires-camoplast-s-track-machines-group|title=Prinoth Acquires Camoplast's Track Machines Group|website=www.saminfo.com|date=16 January 2009 }}
In 2010, Camoplast acquired Groupe Solideal, a company based in Luxembourg that manufactures tires, tracks and wheels for the industrial and construction markets. Subsequently, Camoplast changed its name to Camoplast-Solideal {{cite news
|title= Camoplast fait une acquisition majeure|first= Gilles|last= Fisette|url= http://www.cyberpresse.ca/la-tribune/economie/201009/21/01-4317705-camoplast-fait-une-acquisition-majeure.php
|newspaper= La Tribune| location= Sherbrooke, Quebec| date= September 21, 2010| access-date= June 25, 2011| language= French|trans-title=Camoplast Makes a Major Acquisition}}
On August 23, 2013, Camoplast-Solideal's Composite Division was acquired by four company managers{{in lang|fr}} Investissement Quebec Website [http://www.investquebec.com/quebec/fr/salle-de-presse/communiques/2013-09-30.html?idRet=1119 "Sauvegarde d'une centaine d'emplois à Roxton Falls"], Press release, Montreal, 30 September 2013.{{in lang|fr}} [http://ici.radio-canada.ca/regions/estrie/2013/09/30/003-camoplast-roxton-pret.shtml "Roxton Falls : relance de l'usine Camoplast"], ICI Radio-Canada, 30 September 2013. and became a corporation in its own right under the name Roski Composites, presided by Yves Carbonneau.{{in lang|fr}} [https://www.placeauxjeunes.qc.ca/actualite-id16649 "Quatre dirigeants reprennent les rênes de Camoplast"] {{Webarchive|url=https://web.archive.org/web/20160304121710/https://www.placeauxjeunes.qc.ca/actualite-id16649 |date=2016-03-04 }}, Website Actualité - Place aux jeunes en région, 4 July 2013
On July 3, 2015, Camoplast Solideal was renamed to Camso to "represent the best of Camoplast and Solideal".{{Cite web |url=http://www.camso.co/corporate/news-events?p=202 |title=Camoplast Solideal becomes Camso - Camso |access-date=2015-07-06 |archive-url=https://web.archive.org/web/20150706224821/http://www.camso.co/corporate/news-events?p=202 |archive-date=2015-07-06 |url-status=dead }}
On July 25, 2018, Michelin agreed to acquire Camso for $1.45B. The 'off the road' operations of Michelin will be combined with Camso to form a new division.{{Cite web |url=https://www.mhwmag.com/article.cfm?id=140096 |title=Material Handling Wholesaler |access-date=2018-07-31 |archive-url=https://web.archive.org/web/20180731183458/https://www.mhwmag.com/article.cfm?id=140096 |archive-date=2018-07-31 |url-status=dead }}
On December 18, 2018, Michelin completed the acquisition of Camso, under the terms announced on July 12, 2018 and after obtaining all of the necessary approvals for the transaction. A total consideration of US$1.36 billion was paid for the acquisition.{{Cite web|url=https://www.michelin.com/eng/media-room/press-and-news/press-releases/Finance/Michelin-Completes-the-Acquisition-of-Camso-Thereby-Strengthening-its-Global-Leadership-Position-in-the-Specialty-Businesses|title = Michelin - Michelin Completes the Acquisition of Camso, Thereby Strengthening its Global Leadership Position in the Specialty Businesses|website=www.michelin.com/}}
On December 6, 2024, Michelin sold Camso to Indian tire company CEAT for US$225 million.{{Cite web|url=https://www.michelin.com/en/publications/group/michelin-pursues-its-michelin-in-motion-2030-strategy-and-focuses-its-activities-in-the-construction-market-on-its-most-valued-offerings|title = Michelin pursues its "Michelin in Motion 2030" strategy|website=www.michelin.com/}}
References
{{Reflist}}
External links
- {{Official website|camso.co}}
{{Michelin Corporation|state=autocollapse}}
Category:Manufacturing companies of Canada
Category:Companies based in Quebec
Category:Manufacturing companies established in 1982
Category:1982 establishments in Quebec