CEAT acquires CAMSO unit business
View(s):CEAT Ltd has 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 three-year licensing period, the company said in a media release.
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, the combined strengths open doors to over 40 global OEMs and premium international OHT distributors. Michelin will exit from activities related to compact line bias tyres and construction tracks.
Arnab Banerjee, MD and CEO, CEAT Ltd, said: “The integration of compact construction equipment 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 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.”
The integration of CAMSO’s premium brand and construction compact line manufacturing capabilities into CEAT is a transformative step in the company’s journey, said Amit Tolani, Chief Executive, 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, CEAT moves towards its vision of becoming the world’s most trusted name in Off-Highway Tyres and tracks.
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