Mumbai: CEAT Limited has announced a major strategic move by acquiring Michelin Group’s CAMSO Construction Compact Line Business, marking a transformative step in its Off-Highway Tyres (OHT) expansion journey.
The acquisition includes CAMSO’s manufacturing facilities in Sri Lanka – the Midigama plant and Casting Product plant in Kotugoda – along with eventual global ownership of the CAMSO brand after a three-year licensing period.
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CEAT Secures CAMSO Construction Compact Line Business
With this acquisition, CEAT gains access to the CAMSO Construction Compact Line Business, a recognized name in compact construction equipment tyres and tracks.
The deal strengthens CEAT’s presence in high-growth OHT markets, giving it entry to more than 40 global Original Equipment Manufacturers (OEMs) and premium distributors across Europe and North America. Michelin will exit its compact line bias tyre and construction tracks operations as part of this transition.
US$171 Million Investment in Sri Lanka
CEAT has committed a US$171 million investment in Sri Lanka as part of the CAMSO construction compact line business acquisition, securing 1,483 jobs and enhancing the nation’s position as a global hub for OHT manufacturing.
Commenting on the development, H.E. Santosh Jha, High Commissioner of India to Sri Lanka, said, “India has been the largest source of FDI in Sri Lanka in recent years, and CEAT’s investment reinforces this growing economic partnership. With India’s private sector investing in Sri Lanka, the commercial and economic relationship between the two countries will continue to strengthen.”
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Arnab Banerjee, MD & CEO, CEAT Limited, stated, “The integration of compact construction equipment business and 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. With enhanced products, capabilities, and access to new markets, CEAT is poised for sustainable global growth.”
Amit Tolani, Chief Executive, CEAT Specialty, added, “The integration of CAMSO’s premium brand and manufacturing capabilities into CEAT is transformative. Our focus will be on a seamless transition, ensuring customer satisfaction and strengthening operations in Sri Lanka.”
