CEAT Takes Major Leap in Off-Highway Mobility with CAMSO Acquisition

CEAT Expands Into Off-Highway Mobility with CAMSO Purchase

CEAT Limited, a leading player in the tyre manufacturing sector, has officially announced its acquisition of the compact construction equipment business of CAMSO, previously owned by Michelin Group. This major step marks a pivotal moment in CEAT's ambitious strategy for growth in the off-highway tyre (OHT) segment. With this acquisition, CEAT not only gains ownership of CAMSO's global brand but also its manufacturing facilities located in Midigama and Kotugoda, Sri Lanka.

The deal signifies a shift in the landscape for OHT, allowing CEAT to incorporate CAMSO’s years of expertise in developing high-quality tracks and tyres for compact construction machinery into its portfolio. Over the past decade, CEAT has established a formidable position in the agricultural tyre sector. The synergies achieved from combining CEAT’s strengths with CAMSO’s specialized focus will be crucial in connecting CEAT with over 40 global original equipment manufacturers (OEMs) and top-tier international OHT distributors.

As part of this initiative, CEAT has also announced plans to invest $171 million in Sri Lanka over the next three years. This investment aims to secure 1,483 jobs while bolstering Sri Lanka's standing as a critical hub for off-highway mobility solutions. H.E. Santosh Jha, India’s High Commissioner to Sri Lanka, expressed optimism about CEAT’s investment, noting that India has been a significant contributor to foreign direct investments in Sri Lanka in recent years. He underscored the growing economic and trade ties between India and Sri Lanka, encouraged by mutual efforts to enhance investment-backed partnerships.

Arnab Banerjee, the Managing Director and CEO of CEAT Limited, articulated that the integration of CAMSO's compact machinery business is a strategic move that propels CEAT towards becoming a substantial player in off-highway mobility. He emphasized that the company is prepared to leverage its enhanced product offerings, improved capabilities, and access to new markets to achieve sustainable growth in the coming years.

Amit Tolani, CEO of CEAT Specialty, resonated with this sentiment, stating that the successful integration of the CAMSO brand into CEAT's existing framework is crucial. Their immediate focus will be on ensuring a smooth transition, keeping up customer satisfaction levels, and further strengthening operations within Sri Lanka. By incorporating CAMSO’s compact construction line, CEAT aims to solidify its vision of becoming a globally trusted name for off-highway tyres and tracks.

This bold step marks CEAT's commitment to enhancing its offerings within the rapidly evolving market of off-highway mobility. As the company moves forward, it remains poised to take advantage of emerging opportunities, making significant strides towards establishing its global presence in this sector. The acquisition of CAMSO aligns seamlessly with CEAT’s long-term objectives and sets the groundwork for exciting developments in the future, ensuring that the company remains a competitive force in the industry.