A delegation from CEAT, part of India’s RPG Group, met with the Sri Lanka Export Development Board (EDB) to discuss broadening its presence in the island nation by diversifying its rubber product portfolio.
CEAT CEO Arnab Banerjee led the team in discussions with EDB Chairman Mangala Wijesinghe at the EDB headquarters in Colombo.
Banerjee provided an overview of RPG’s operations, spanning agriculture, engineering, and rubber, while highlighting CEAT’s recent acquisition of the CAMSO brand, a product now manufactured in Sri Lanka under RPG’s ownership.
The EDB welcomed CEAT’s expansion initiatives, with Wijesinghe emphasizing investment opportunities in sectors such as pharmaceuticals, ICT, agriculture, and logistics.
The meeting was attended by senior officials from CEAT, including Chief Financial Officer Vipul Vaid, Chief Executive of CEAT Specialty Amit Tolani, and Managing Director and CEO of CEAT Sri Lanka Ravi Dadlani.
CEAT Kelani Holdings, a major tyre manufacturer in Sri Lanka, fulfills over 50% of the nation’s pneumatic tyre demand and maintains a dominant market share in multiple segments, including tyres for passenger cars, SUVs, motorcycles, and agricultural vehicles.
The company operates through an extensive dealer network nationwide, offering customers access to its wide range of products.
CEAT’s growth strategy was further reinforced by its December 2024 acquisition of Michelin’s off-highway tyre and tracks business in Sri Lanka, including two production plants and the CAMSO brand.
This deal reflects CEAT’s commitment to innovation and its vital role in Sri Lanka’s economic development.
Notably, Fitch Ratings has affirmed CEAT Kelani Holdings’ ‘AA+(lka)’ National Long-Term Rating with a Stable Outlook, highlighting its financial stability and robust market position.
Meanwhile, Michelin announced its plans to phase out bias tyre production globally, which includes the sale of its bias tyre and compact construction equipment tracks business in Sri Lanka to CEAT.
he deal, effective after a three-year licensing period, transfers ownership of the CAMSO brand to CEAT. Despite this, Michelin reiterated its commitment to maintaining other operations in Sri Lanka and modernizing its facilities.
The acquisition builds on the legacy of Loadstar, a Belgian-initiated business later sold to Camso before Michelin took over. Michelin’s Senior Vice President, Nour Bouhassoun, expressed confidence in CEAT’s ability to carry forward the bias tyres and tracks business.
CEAT’s expansion plans and its strategic acquisition underscore its ambition to cement its position as a leading player in the global rubber sector while driving economic growth in Sri Lanka.
