CEAT Buys Michelin's CAMSO Construction Compact Line Business

Strategic Expansion in Off-Highway Tyres

CEAT Limited has taken a significant step forward in its Off-Highway Tyres (OHT) growth strategy by acquiring the CAMSO Construction Compact Line Business from Michelin Group. This acquisition includes the Midigama plant in Sri Lanka and the Casting Product plant in Kotugoda. The deal also grants CEAT global ownership of the CAMSO brand, which will be fully integrated across categories after a three-year licensing period.

This move marks a major milestone for CEAT as it aims to become a leading player in the high-margin OHT segment. Over the past decade, CEAT has developed a strong agricultural tyre portfolio. With the addition of CAMSO's expertise in compact construction equipment tracks and tyres, the combined strengths open up opportunities with over 40 global OEMs and premium international OHT distributors. Michelin is stepping back from activities related to compact line bias tyres and construction tracks.

Support from Key Stakeholders

Santosh Jha, High Commissioner of India to Sri Lanka, expressed his support for CEAT's investment in Sri Lanka. He highlighted that India has been the largest source of FDI in Sri Lanka in recent years and welcomed the continuation of this trend. He emphasized that the deepening of the investment-led partnership between the two countries is driven by the leadership of both nations, supporting their vision of shared prosperity.

Arnab Banerjee, MD and CEO of CEAT Limited, stated that the integration of the compact construction equipment business and the acquisition of the CAMSO brand are pivotal steps in advancing CEAT's long-term vision. He expressed confidence that the enhanced strengths in products, capabilities, and markets will enable CEAT to enter new geographies, expand its portfolio, and drive sustainable growth.

Focus on Seamless Transition

Amit Tolani, Chief Executive of CEAT Specialty, highlighted the transformative nature of integrating CAMSO's premium brand and construction compact line manufacturing capabilities into CEAT. He mentioned that the immediate focus is on ensuring a seamless transition, maintaining customer satisfaction, and further strengthening operations in Sri Lanka.

Future Vision

With the acquisition of CAMSO's Compact Construction Equipment business, CEAT is moving confidently towards its vision of becoming the world's most trusted name in Off-Highway Tyres and tracks. This strategic move not only enhances CEAT's product offerings but also strengthens its position in the global market. The combination of CEAT's existing strengths and CAMSO's expertise positions the company to capitalize on emerging opportunities and meet the evolving needs of its customers.

The acquisition underscores CEAT's commitment to innovation, quality, and customer-centric approaches. As the company continues to expand its footprint, it is well-positioned to lead in the off-highway tyre industry, driving growth and delivering value to stakeholders worldwide.