Ceat Steps Forward with Camso Acquisition

In a significant industry move, tyre manufacturer Ceat announced on Monday the completion of its acquisition of Michelin Group's Camso off-highway tyres and tracks business. This acquisition marks a strategic expansion for Ceat.

The deal, finalized following a definitive agreement reached in December last year, is expected to bolster Ceat's capabilities in the off-highway mobility sector. Ceat's Managing Director and CEO, Arnab Banerjee, described the acquisition as key to the company's long-term vision to emerge as a formidable force in the industry.

The integration of Camso, a premium brand with a solid market presence in Europe and North America, is expected to enhance Ceat's product offerings and market reach. The company aims to leverage these strengths to access new markets, diversify its portfolio, and achieve sustainable growth moving forward.

(With inputs from agencies.)