Michelin completes the acquisition of Cooley Group and creates a global leader in industrial coated fabrics

Core Insights - Michelin has successfully completed the acquisition of Cooley Group, establishing a global leader in industrial coated fabrics [1][5] - The acquisition aligns with Michelin's strategic goals, emphasizing innovation and high-quality products while enhancing geographic reach [5] Company Overview - Cooley Group, celebrating its 100th anniversary in 2026, is headquartered in Rhode Island, USA, and is recognized for its expertise in high-performance polymer coated fabrics [2] - The company is vertically integrated, with capabilities in weaving, knitting, and polymer extrusion [2] - Cooley Group employs 300 people and operates primarily in North America, with four factories (three in the USA and one in Canada) [3] - In 2025, Cooley Group reported revenue of $168 million [3] Strategic Fit - The acquisition is considered a good strategic fit as both Michelin and Cooley Group share a commitment to innovation and high-quality products [5] - The transaction was financed through available cash, which helps preserve Michelin's strong financial position [5]