Acquisitions1 Sept 2025, 06:56 pm
CEAT Acquires Michelin's CAMSO Construction Compact Line Business, Boosting Off-Highway Mobility Strategy
AI Summary
CEAT Limited has officially acquired Michelin Group’s CAMSO Construction Compact Line Business, including their Sri Lanka-based Midigama plant and Casting Product plant in Kotugoda. This transaction also grants CEAT global ownership of the CAMSO brand, which will be permanently assigned across categories after a three-year licensing period. The acquisition marks a major milestone in CEAT's journey to becoming a leading global player in the high-margin OHT segment, opening doors to over 40 global OEMs and premium international OHT distributors.
Key Highlights
- CEAT acquires Michelin Group’s CAMSO Construction Compact Line Business, including Sri Lanka’s Midigama plant and Casting Product plant in Kotugoda.
- CEAT gains access to 40+ global OEMs and premium distributors through CAMSO’s equity in EU and North America.
- CEAT announces a USS171M investment in Sri Lanka, securing 1,483 jobs and strengthening the nation’s role as a global OHT hub.
- Michelin exits from the activities related to compact line bias tyres and construction tracks.
- CEAT moves confidently towards its vision of becoming the world’s most trusted name in Off-Highway Tyres and tracks.