CEAT Expands Global Footprint with Camso Acquisition, Eyes Premium Off-Highway Market.

Indian tyremaker CEAT has officially announced the successful completion of its acquisition of Michelin Group’s CAMSO Construction Compact Line Business, a strategic move that strengthens its position in the off-highway tyre (OHT) market. The deal includes the acquisition of two key manufacturing facilities in Sri Lanka: the Midigama plant and the Casting Product plant in Kotugoda.

As part of the acquisition, CEAT has integrated the globally recognized CAMSO brand into its OHT strategy. The company informed stock exchanges that it will gain permanent global ownership of the brand after a three-year licensing period.

The deal also includes a significant $171 million investment in Sri Lanka, a move that will secure 1,483 jobs and reinforce the country's role as a global OHT manufacturing hub.