MAGOG, Québec (Aug. 15, 2014) — Industrial tire specialist Camoplast Solideal Inc. has acquired Argentinian industrial tire maker Rodaco Argentina S.A. to improve its capacity to make and distribute tires for the materials-handling industry in South America.
Financial terms of the deal were not disclosed.
Porto Allegre, Argentina-based Rodaco was founded in 1997. It manufactures a wide range of industrial and solid tires at plants in Porto Alegre and Buenos Aires, Argentina, and operates a distribution center in São Paulo.
The business, according to Camoplast Solideal, has become a respected and reliable provider of material handling tires throughout the region due to employee empowerment, an established network and a strong focus on customer service.
“Having a physical presence in Latin America is an important component to achieving our global growth objectives in material handling," said Francois Augnet, chief operating officer – construction and material handling at Camoplast Solideal.
“By combining our manufacturing and distribution processes with the local knowledge and reputation of the team at Rodaco, we will have a unique offering to best serve this growing market.”
Camoplast Solideal did not disclose Rodaco’s annual sales or other financial details.
Employees from both organizations will collaborate to become a bigger, better team, according to Camoplast Solideal, which said this acquisition establishes its industrial footprint in the region and demonstrates the company’s dedication to consolidating its position as the leader in the off-the-road mobility sector.
Among Rodaco’s product portfolio are industrial tires for fork lift trucks, skid steer loaders, crane forklifts, trailers and lifting platforms, along with a range of press-on band tires and industrial wheels for forklifts — two pieces wheels, split wheels, divided steel wheels, lock rings, system fix, clip or quick for all makes of forklifts, cranes, trailers and forklift trucks.
Rodaco supplements its own manufacturing with imports, the firm said on its website, and sells either directly or through distributors in Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Panama, Paraguay, the U.S. and Uruguay.
Magog-based Camoplast Solideal was formed in 2010 through the merger of rubber-track maker Camoplast and Luxembourg-based Solideal Group.
It’s engaged in designing, making and distributing off-road tires, wheels, rubber tracks and undercarriage systems to the materials-handling, construction, agricultural and powersports industries. It employs more than 7,500 and operates plants in the U.S., Canada, Europe and Asia.
Are you paying attention to the ups-and-downs of the stock market?
|Yes, I invest in the market||
|Yes, but I mostly keep an eye on just my company's stock||
|No, it makes me nauseous||
|I’m glad I don't invest in the market; I would have lost my shirt||
|Total votes: 99|