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.