Project Roundup

Camso announces investment in its Iowa manufacturing facility

By April 7, 2022 No Comments

Camso Manufacturing, a subsidiary of Camso Holding USA LTD, which is a subsidiary of Michelin North America, plans to spend $20 million to upgrade its equipment and add more than 33 new jobs to the current staff of 175 at their plant in Peosta, Iowa.  

Camso is a leader in the design, manufacture and distribution of off-road tires, wheels, rubber tracks and undercarriage systems to serve material handling, construction, agricultural and powersports industries. The company supplies its products to leading original equipment manufacturers (OEMs) under the names Camso and Solideal and distributes its products in the replacement market through its global distribution network. 

The Peosta location manufactures undercarriages for heavy equipment. It plans to rework its existing footprint and purchase new equipment to implement a wheel line. This will allow it to process rubber or polyurethane molding on the outside of midrollers used in undercarriages. 

The Iowa Economic Development Authority awarded Camso $600,000 in tax credits for upgrades at the facility. The company plans to have its facility ready for the new line by the end of 2023 and to purchase the equipment by 2025. Camso will receive $120,000 of its tax credit award annually over a five-year period, beginning this year. The credits come from the state’s High Quality Jobs program, which provides assistance to businesses to offset costs to expand facilities. 

Michelin North America said the plan is consistent with its commitment to accelerate advanced manufacturing.