Ceat Acquires Camso Off-Highway Unit from Michelin Group

On Monday, the tire manufacturer Ceat announced that it had successfully acquired the Camso off-highway tyres and tracks division of the Michelin Group. In December of last year, the company and Michelin reached a final deal for the corporation to buy the company.

"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," Ceat MD & CEO Arnab Banerjee said in a regulatory filing. He added that the business is certain that improved product, capability, and market strengths would allow it to extend its portfolio, penetrate new markets, and promote sustainable growth in the years to come.

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With a solid market position and equity in both the EU and North American aftermarket and original equipment markets, Camso is a premium brand of construction equipment tires and tracks.

CEAT is an Indian multinational tire manufacturing company, originally founded in Italy in 1924 and now the flagship of the RPG Group. CEAT has a presence in more than 110 countries worldwide, and manufactures and sells a very diverse set of high quality tires for scooters, motorcycles, passenger cars, trucks, buses, and tractors.

CEAT is recognized for manufacturing excellence with titles such as the World Economic Forum's Lighthouse Designation, Deming Prize. CEAT has a business philosophy based on innovation, customer centered satisfaction and sustainable development.