CEAT has acquired Camso's Off-Highway tyres and tracks business from Michelin for $225 million, gaining global ownership of the Camso brand and two manufacturing facilities in Sri Lanka. This deal, expected to generate revenues of approximately $213 million in CY23, enhances CEAT's product portfolio in the high-margin Off-Highway Tyres segment and provides access to a global customer base, including over 40 international OEMs. The Camso brand will be permanently assigned to CEAT after a three-year licensing period, marking a significant step in CEAT's ambition to become a leading player in this market.
