True, but I'm pretty sure the OP is referring to the European colonial era, which is the specific period of time during which European countries colonized most of the world. http://en.wikipedia.org/wiki/Colonialism
But I do get the contradiction: since colonization has happened for most of human history, as an overall human pursuit, it doesn't have any connection whatsoever to industrialization. At the same time though, certain eras may have had specific motivations/causes.
What you referenced doesn't seem to me to match what the OP was after.