Ceat's Ambitious Expansion: Camso Acquisition Set to Boost Global Presence
Mumbai-based tyre giant Ceat aims for a 10-15% topline growth following its acquisition of Michelin's Camso brand. The $225 million deal enhances Ceat's footprint in the off-highway tyres sector, providing access to a global customer base. The integration is expected to significantly accelerate its international business.
- Country:
- India
Tyre manufacturer Ceat has projected a 10-15% increase in topline growth following the integration of the Camso brand, announced the company on Tuesday. The acquisition from Michelin, costing approximately $225 million, is expected to augment Ceat's revenue significantly.
Ceat's leadership, including MD and CEO Arnab Banerjee, shared during a virtual press conference that the full integration across the supply chain will initially impact the company's topline, with the bottom line set to improve in four to six quarters.
The acquisition strategically positions Ceat to become a dominant global player in the off-highway tyres segment by leveraging Camso's established market presence and its inclusion of over 40 international OEMs. Ceat will focus on expanding within Europe, North America, Brazil, Australia, and South Africa.
(With inputs from agencies.)
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- Ceat
- Camso
- Michelin
- acquisition
- tyres
- global expansion
- off-highway
- OEM
- revenue growth
- integration
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