1 September 2014 - French tyre maker Compagnie Generale DES Etablissements Michelin SCA (EPA:ML) announced today it had closed the takeover of Brazilian fleet management and freight security company Sascar Participacoes SA and its affiliates.
Sascar is one of the largest fleet companies in Brazil, managing 33,000 fleets with some 190,000 trucks.
The acquisition of Sascar will allow Michelin to expand its presence on the Brazilian truck tyre market and establish a solid position in the country's fleet management business, the French company noted.
9 June 2014 - French tyres maker Compagnie Generale DES Etablissements Michelin SCA (EPA:ML) on Monday said it would to buy Brazilian digital fleet management and freight security firm Sascar for an enterprise value of BRL1.6bn (USD712m/EUR522m).
Sascar in Sao Paulo, with 870 staff, has a solid presence in the country's independent trucker and small truck fleet segment.