23.09.2010

Camoplast acquires Solideal

Privately-owned Canadian company Camoplast has acquired construction and material handling tyre, wheel and rubber track company Solideal Group. Subject to regulatory approvals, the deal will be finalised next month.

The new company Camoplast Solideal Inc. will create a world leader in industrial tyres, rubber tracks and undercarriages with a strong presence in construction tyres and wheels.

Solideal and Camoplast brands will continue to be managed independently.
Camoplast Solideal will operate R&D and manufacturing facilities in North America, Europe and Asia, with a workforce of approx. 7,400 employees and should generate significant synergies and flexibility in purchasing, manufacturing, logistics and in R&D.

"Our combined teams will be a powerful force for innovation around their particular line of products. Together we will also benefit from a strong financial structure and sharing of the best tools and practices," said Pierre Marcouiller, chairman of the board and CEO of Camoplast.
“Camoplast and the Solideal Group will together offer customers more value-added solutions to mobility challenges,” said Paul Gaines, CEO of Solideal. “The pooling of our two companies’ strengths will add value to our stakeholders: customers, employees, shareholders and suppliers.”

Headquartered in Luxembourg, Solideal has R&D facilities based 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 over 6,000 people worldwide, many working at Solideal’s manufacturing operations in Sri Lanka (Loadstar) and China.

Camoplast Inc. consists of two groups: Camoplast Tracks & Systems (headquartered in Magog, Quebec, Canada) and Camoplast Polymer Solutions (headquartered in Sherbrooke, Quebec, Canada) employing approx. 1,400 people worldwide.

Camoplast Tracks and Systems is a world leader in rubber tracks and systems. It has R&D facilities based in Canada and Korea and manufacturing sites in United States, Canada, Korea and Europe.

Camoplast Polymer Solutions is a North America leader in under-the-hood components mainly, engine covers, bottles and air ducts. It is headquartered in Sherbrooke with R&D centers in Canada and manufacturing sites in Canada and United States.

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