Camoplast Solideal marriage “to create world leader”

News Story
- 30 Sep 2010 ( #481 ) - Sherbrooke, Canada
2 min read
Camoplast Inc has acquired Solideal Group in a deal that is expected to generate significant synergies in purchasing, manufacturing, logistics and R&D.

David Shippee, Solideal USA's director of marketing, says all the employees at Solideal will be retained and there are no plans to close any plants. "In the integration plan, we will look at adjustments where it creates value to the customer at great quality level. There is very little overlap in terms of products and we know we will have a need for everybody in this growing entity."

The holding company will be named Camoplast Solideal Inc, while the Solideal and Camoplast brands will continue to be managed independently. Current Solideal shareholders have a significant participation in the ownership of the holding company. The transaction is subject to regulatory approvals expected to finalise in October.

"The combination of the two companies will create a worldwide leader in industrial tyres, construction tyres and rubber tracks for off-road vehicles. Together, the two will have a significantly greater opportunity to grow into new markets, particularly in the tyre and track segments, with an enhanced product offering, a worldwide network capacity and a strong global manufacturing presence," Shippee says.

Camoplast Solideal Inc will operate R&D and manufacturing facilities in North America, Europe and Asia, with a 7,300-strong workforce.

"Both Camoplast and Solideal employ dedicated and focused people, sharing similar values such as team work and empowerment," says Pierre Marcouiller, CEO and chairman of the board 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 the access and sharing of the best tools and practices," he adds.

"The pooling of our two companies' strengths will add value to our stakeholders: customers, employees, shareholders and suppliers," says Paul Gaines, Solideal Group's CEO.

The value of the transaction is confidential.

Solideal, headquartered in Luxembourg, has R&D facilities in Europe and Asia, plants in Europe, North America and Asia, and over 100 distribution and service locations worldwide. It serves the tyre, wheel and rubber track needs of the materials handling and construction industries and employs over 6,000 people globally, many of whom work at the Sri Lankan and Chinese plants.

Camoplast Inc is a Canadian privately owned company composed of two groups, Camoplast Tracks and Systems and Camoplast Polymer Solutions. Camoplast Tracks and Systems manufactures rubber tracks and systems from its plants in the US, Canada, Korea and Europe. It has R&D facilities in Canada and Korea. Camoplast Polymer Solutions manufactures under-the-hood components in Canada and the US. The company employs 1,400 people globally.
Briefs
Briefs 10 Jul 2025 - 1 min read
Best Line and Burwell expand in US
Best Line and Burwell expand in US 10 Jul 2025 - United States - 1 min read
Briefs
Briefs 26 Jun 2025 - 1 min read
Previously about:
Briefs News Story - 10 Jul 2008 - 1 min read
Do you have materials handling news? Submit your news here

PREMIUM business

Hawker Powersource, Inc.
HAWKER® offers a range of hybrid motive power solutions customized to adapt as your operation's needs change.

Since July 2000, Forkliftaction News has been your guide to the developments that are shaping your industry.

Starting today we are also looking back on some of the key news stories from our extensive news archive.

In the news email and on the website, you'll see links to stories that were 'leading our news' multiple years ago, with topics spanning world-first products, big acquisitions, and major industry shifts.
We hope you enjoy this unique insight into the materials handling industry!

Words of support …

The cooperation with Forkliftaction has been exceptional. It's always a pleasure to work with specialists who know the inside out of the industry

Ane Miren Elorza, Communications Specialist

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

Since July 2000, Forkliftaction News has been your guide to the developments that are shaping your industry.

Starting today we are also looking back on some of the key news stories from our extensive news archive.

In the news email and on the website, you'll see links to stories that were 'leading our news' multiple years ago, with topics spanning world-first products, big acquisitions, and major industry shifts.
We hope you enjoy this unique insight into the materials handling industry!

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

It’s the year 2000. You’re in front of a boxy beige desktop waiting for the screeching ramblings of your dial-up to reach its finale. You go to Yahoo!, MSN, or maybe AOL, and start the mind-numbing process of finding your very specific needle in the digital haystack. And with web pages loading one image at a time, patience isn’t just a virtue – it’s a requirement!

As clumsy as this early iteration seems now, this technology was the great enabler that allowed Forkliftaction to connect to the industry across the globe.  

To everyone who has connected with Forkliftaction in the past 25 years, thank you for your contribution to our success! We feel deeply touched by your words of encouragement.

What has Forkliftaction meant to you? Drop us a line.