Sherbrooke, Quebec-based rubber track producer Camoplast Inc. is acquiring the Solideal Group for an undisclosed sum. The transaction will close next month.
The combined companies 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," according to Camoplast officials. Campolast and Solideal will continue to be managed independently.
Camoplast Solideal will operate research and development facilities in North America, Asia and Europe, with a total workforce of 7,400 employees.
Solideal has more than 100 distribution and service locations throughout the world and operates manufacturing plants in China and Sri Lanka.
