Tyre giant buys Canadian firm

French tyre-maker Michelin has agreed to buy Canadian off-road tyre and track manufacturer Camso for $1.45 billion (£1.1bn).

Camso is known as a market leader in creating rubber tracks for farming equipment and snowmobiles as well as small heavy equipment. Michelin, which has a major Scottish plant, plans to combine its off-road operations with Camso, forming a new arm managed from Quebec.