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/ColonialismI think above the term used in various places above was meant to be imperialism, not colonization. Colonization has likely been going on since the beginning of homo sapiens.
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.