CEAT Limited announced the acquisition of CAMSO, which includes Michelin Group’s CAMSO Construction Compact Line Business. The deal covers the Midigama plant and Casting Product plant in Kotugoda, Sri Lanka. It also includes global rights to the CAMSO brand. After a three-year licensing period, CEAT will permanently own the brand across all categories.
CEAT said its acquisition of CAMSO marks a milestone to become a global player in the OHT segment. CAMSO’s expertise in compact construction equipment tracks and tires opens access to over 40 global OEMs and premium international distributors. As part of the deal, Michelin will exit compact line bias tires and construction tracks.
A Strategic Investment In Sri Lanka
“I would like to extend my best wishes to CEAT Limited for its investment in Sri Lanka,” said H.E. Santosh Jha, High Commissioner of India to Sri Lanka. “India has been the largest source of FDI in Sri Lanka in recent years. I am happy to see that trend continue. The deepening of the investment-led partnership between the two countries has been catalyzed by the leadership of both countries. It supports their vision of building a future of shared prosperity for our peoples. I’m confident that the economic & commercial relationship between the two countries will continue to strengthen.”
CEAT Leadership on CAMSO Acquisition
“The integration of compact construction equipment business and the acquisition of the CAMSO brand is a pivotal step in advancing CEAT’s long-term vision of becoming a significant player in Off Highway mobility,” said Arnab Banerjee, MD & CEO, CEAT Limited. “We are confident that our enhanced strengths in products, capabilities, and markets will enable us to enter new geographies, expand our portfolio, and drive sustainable growth in the years ahead.”
“The integration of CAMSO’s premium brand and construction compact line manufacturing capabilities into CEAT is a transformative step in our journey,” said Amit Tolani, Chief Executive, CEAT Specialty. “Our immediate focus is on seamless transition.”
CEAT said the CAMSO acquisition brings advanced product capabilities, new market opportunities, and a stronger foundation in off-highway tires and tracks.
