CEAT has acquired Michelin Group's CAMSO Construction Compact Line Business, including two manufacturing facilities in Sri Lanka, as part of its strategy to expand in the Off-Highway Tyres (OHT) segment. The deal also gives CEAT rights to the CAMSO brand, which will transfer permanently after a three-year licensing period.
The transaction covers Michelin's Midigama tyre plant and the Casting Product plant in Kotugoda, Sri Lanka. With this acquisition, Michelin exits compact line bias tyres and construction tracks. CEAT said the integration strengthens its OHT portfolio and opens access to over 40 global original equipment manufacturers (OEMs) and premium distributors across Europe and North America.
The company also announced a USD 171 million investment in Sri Lanka to modernise operations and expand capacity. The investment will safeguard 1,483 jobs, reinforcing Sri Lanka's role as a global hub for OHT manufacturing.
Arnab Banerjee, Managing Director and CEO of CEAT, said the acquisition is a “pivotal step” in advancing the company’s long-term OHT vision. “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,” he said.
Amit Tolani, Chief Executive of CEAT Specialty, added that the immediate priority is ensuring a seamless transition while strengthening Sri Lanka operations.
CEAT, part of the USD 5.2 billion RPG Group, has built a strong agricultural tyre portfolio over the past decade. The integration of CAMSO's compact construction equipment business now positions it to expand globally in high-margin OHT categories.
The company exports tyres to more than 110 countries and counts several global OEMs among its clients. With the CAMSO acquisition, CEAT moves closer to its stated goal of becoming a leading global player in off-highway mobility.
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