Acquisitions1 Sept 2025, 07:00 pm
CEAT Acquires Michelin's CAMSO Construction Compact Line Business, Securing 1,483 Jobs in Sri Lanka
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.
- CEAT’s acquisition of CAMSO brand marks a major milestone in its journey to becoming a leading global player in the high-margin OHT segment.
- Michelin will exit from the activities related to compact line bias tyres and construction tracks.