CEAT Expands Its Global Footprint with Camso Acquisition

CEAT has acquired Michelin's Camso off-highway tyres and tracks business for USD 225 million as part of its strategy to expand in the growing off-highway tyres segment. This acquisition is expected to enhance CEAT's product offerings and global reach, particularly in premium markets.

In a strategic move, CEAT, a prominent player in the tyre industry, has sealed a significant deal with global tyre giant Michelin to acquire its Camso brand's off-highway tyres and tracks business. This acquisition aims to bolster CEAT's presence in the lucrative and fast-growing off-highway tyres (OHT) segment.

The transaction, valued at USD 225 million, is a definite step towards CEAT's ambition of becoming a leading global entity in the high-margin OHT sector. By taking over Camso's operations, CEAT will inherit a well-established global clientele, including more than 40 international OEMs and top-tier OHT distributors.

CEAT's Managing Director, Arnab Banerjee, emphasized the untapped potential within the track segment, which has shown a robust CAGR of 6-7 percent compared to the sluggish 2 percent in the tyre segment. With Camso's strong market position in Europe and North America, CEAT is poised to maximize its growth potential in this premium sector.

(With inputs from agencies.)