The business assets garnered $213 million in revenue in 2023. The transaction also includes two manufacturing facilities in Sri Lanka and the rights to use the Camso brand, which will follow an initial three-year licencing period, according to the filing.
With the acquisition, the company expects to gain the ability to widen its product base into tracks and construction tyres. It will also result in “immediate access to a global customer base”, including international original equipment manufacturers and premium international off-highway tyre distributors, Ceat added.
“Access to the most premium customers, a high-quality brand and a qualified global workforce is what excites us the most about this acquisition,” Chief Executive Officer Arnab Banerjee said.
