CEAT Limited has made a substantial advancement inits Off-Highway Tyres (OHT) growth strategy by officially acquiring Michelin Group’s CAMSO Construction Compact Line Business, including their Sri Lanka-based Midigama plant andCasting Product plant in Kotugoda. This transaction also grants CEAT global ownership of theCAMSO brand, which will be permanently assigned across categories after a three-yearlicensing period.CEAT’s acquisition of CAMSO brand marks a major milestone in its journey to becoming aleading global player in the high-margin OHT segment.
Over the past decade, CEAT has built a strong agricultural portfolio, and with CAMSO’s expertise in compact construction equipmenttracks and tyres the combined strengths open doors to over 40 global OEMs and premium international OHT distributors. Michelin will exit from the activities related to compact linebias tyres and construction tracks.H.E. Santosh Jha, High Commissioner of India to Sri Lanka said: “I would like to extend my best wishes to CEAT Limited for its investment in Sri Lanka. India has been the largest sourceof FDI in Sri Lanka in recent years and I am delighted to see that trend continue. The deepening of the investment-led partnership between the two countries has been catalyzed by theleadership of both countries.
It supports their vision of building a future of shared prosperityfor our peoples. With India’s private sector investing in Sri Lanka, I’m confident that theeconomic & commercial relationship between the two countries will continue to strengthen”.Arnab Banerjee, MD & CEO, CEAT Limited, said: “The integration of compact constructionequipment business and the acquisition of the CAMSO brand is a pivotal step in advancing CEAT’s long-term vision of becoming a significant player in Off Highway mobility. We areconfident that our enhanced strengths in products, capabilities, and markets will enable us toenter new geographies, expand our portfolio, and drive sustainable growth in the yearsahead.”
The integration of CAMSO’s premium brand and construction compact line manufacturing capabilities into CEAT is a transformative step in our journey,” said Amit Tolani, ChiefExecutive, CEAT Specialty. Our immediate focus is on seamless transition, ensuring customer satisfaction and further strengthening our operations in Sri Lanka.”With the Compact Construction Equipment business of CAMSO now part of its portfolio, CEATmoves confidently towards its vision of becoming the world’s most trusted name in Off-Highway Tyres and tracks.
