CEAT's Strategic Leap: Acquires Camso Brand for Rs 1,905 Crore

CEAT's stocks surged after announcing its acquisition of Michelin's Camso Off-highway Tyres and tracks business for Rs 1,905 crore. The move is aimed at strengthening CEAT's position in the high-margin OHT market, providing access to a global customer base, including over 40 international OEMs and distributors.

In a strategic move, CEAT has announced its purchase of Michelin's Camso Off-highway Tyres and tracks business, aligning with its global expansion strategies. This acquisition, valued at Rs 1,905 crore, signifies CEAT's ambition to dominate the high-margin OHT market.

The company's shares skyrocketed over 10 percent in response, hitting a 52-week high on both BSE and NSE. This surge reflects investor confidence in CEAT's growth path following the acquisition.

The deal opens doors for CEAT to access premium international markets, supported by Camso's well-established presence in Europe and North America, particularly in the construction equipment sector.

(With inputs from agencies.)