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CEAT Kicks Off the Next Big Move in Off-Highway Mobility
CEAT Limited recently made a substantial advancement in its Off-Highway Tyres (OHT) growth strategy by officially acquiring Michelin Group’s CAMSO Construction Compact Line Business, including their Sri Lanka-based Midigama plant and Casting Product plant in Kotugoda. This transaction also grants CEAT global ownership of the CAMSO brand, which will be permanently assigned across categories after a 3-year licensing period. CEAT’s acquisition of CAMSO brand marks a major milestone in its journey to becoming a leading 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 equipment tracks and tyres, and equity in EU and North America, the combined strengths open doors to over 40 global OEMs and premium international OHT distributors, accelerating its vision to be a global leader in Off-Highway mobility. Michelin will exit from activities related to compact line bias tyres and construction tracks. CEAT also announced a US$171 million ($234 million) investment in Sri Lanka over the next 3 years, strengthening the nation’s role as a global OHT hub. “The integration of compact construction equipment business and the acquisition of CAMSO brand is a pivotal step in advancing CEAT’s long-term vision of becoming a significant player in Off-Highway mobility. We are confident that our enhanced strengths in products, capabilities, and markets will enable us to enter new geographies, expand our portfolio, and drive sustainable growth in the years ahead,” said Arnab Banerjee, MD and CEO, CEAT Limited. With the Compact Construction Equipment business of CAMSO now part of its portfolio, CEAT moves confidently towards its vision of becoming the world’s most trusted name in OHT and tracks.
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