Tyre maker Ceat expects 10-15% revenue boost on Camso acquisition

CEAT expects a 10-15% topline boost after acquiring Michelin's Camso compact construction line in a $225 mn deal, gaining Sri Lanka plants and global brand rights

CEAT expects a 10-15 per cent boost to its revenue as it winds up the acquisition process to take over Camso Construction brand’s off-highway tyres (OHT) and tracking business from French tyre maker Michelin Group.

 

The Indian tyre maker on Monday announced that it has completed the acquisition process.

 

It had, in December last year, entered into an agreement with Michelin to acquire the Camso brand’s off-highway construction equipment bias tyres and tracks business in an all-cash deal valued at $225 million (₹1900 crore), which includes two manufacturing facilities in Sri Lanka and the global rights to the Camso brand.