Solideal Join Forces
The Camoplast Solideal combination will
create a world leader in industrial tires,
and undercarriages with a strong
presence in construction tires and wheels.
Sherbrooke, Québec, Canada – September 21,
2010 – Camoplast Inc. announced today the
acquisition of the Solideal Group, a company
dedicated to serving the tire, wheel and rubber
track needs of the world's material handling and
construction industries. The closing of the
transaction is subject to regulatory approvals
and is estimated to take place in October, 2010.
The integrated company will operate under the
name of Camoplast Solideal Inc. with a
significant participation of the current
shareholders of Solideal in the ownership of the
company. Solideal and Camoplast brands will
continue to be managed independently.
Camoplast Solideal Inc. will operate R&D and
manufacturing facilities in North America,
Europe and Asia, with a workforce of approx.
7,400 employees. The transaction should generate
significant synergies and flexibility in
purchasing, manufacturing, logistics and in R&D.
The two companies are developing integration
plans built on the cultural similarities,
respective strengths, and the best business and
product development practices.
"Both Camoplast and Solideal employ dedicated
and focused people, sharing similar values such
as teamwork and empowerment" said Pierre
Marcouiller, Chairman of the Board and Chief
Executive Officer of Camoplast. "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."
“Camoplast and the Solideal Group will together
offer customers more value-added solutions to
mobility challenges,” said Paul Gaines, Chief
Executive Officer of Solideal. “The pooling of
our two companies’ strengths will add value to
our stakeholders: customers, employees,
shareholders and suppliers.”
Solideal is dedicated to
serving the tire, wheel and rubber track needs
of the world's material handling and
construction industries. Headquartered in
Luxembourg, Solideal has R&D facilities based in
Europe and Asia, manufacturing sites in Europe,
North America and Asia, and over 100
distribution and service locations throughout
the world. The Solideal Group employs over 6,000
people worldwide, many of whom work at
Solideal’s manufacturing operations in Sri Lanka
(Loadstar) and China.
For more information, visit
About Camoplast Inc.
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 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
For more information, visit