GREENVILLE, S.C., March 24, 2017 ─ Michelin North America today announced that its subsidiary Michelin Sascar Mexico, S.A. de C.V., has signed an agreement to acquire the fleet management business assets of Mexico-based Copiloto Satelital, S.A. de C.V.
Following completion of customary closing conditions, Michelin Sascar Mexico will become the service provider for Copiloto’s fleet management customers. The companies have agreed that financial and other terms of the agreement will not be disclosed. The transaction is expected to close in the second quarter of 2017.
Copiloto provides fleet management solutions (such as monitoring, accident prevention, cost control, and others) to commercial fleet customers in Mexico, primarily through its proprietary hardware and web-based software platform. This platform will serve as a complementary extension of Michelin Sascar’s Cargo Tracck solution and other services for commercial fleets.
About Michelin North America
Dedicated to the improvement of sustainable mobility, Michelin designs, manufactures and sells tires for every type of vehicle, including airplanes, automobiles, bicycles, earthmovers, farm equipment, heavy-duty trucks and motorcycles. The company has earned a long-standing reputation for building innovative premium tires. In addition to tires, the company also publishes travel guides, hotel and restaurant guides, maps and road atlases. Headquartered in Greenville, S.C., Michelin North America (www.michelinman.com) employs about 22,700 and operates 19 major manufacturing plants.