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CEAT acquires Camso Brand Off-Highway Tires and Tracks Business from MichelinCEAT acquires Camso Brand Off-Highway Tires and Tracks Business from Michelin
CEAT and Michelin have entered into a definitive agreement for CEAT to acquire Camso brand’s Off-Highway construction equipment bias tire and tracks business from Michelin in an all-cash deal valued at about $225 million. The transaction will include the business with revenues of around $213 million for CY 2023 and global ownership of the Camso brand along with two state-of-the-art manufacturing facilities.
Camso is a premium brand in construction equipment tire and tracks with strong equity and market position in the EU and North American aftermarket and OE segments. This will expand CEAT’s product portfolio in the high margin Off-Highway Tires (OHT) and tracks segments, which includes agriculture tires and tracks, harvester tires and tracks, power sports tracks and material handling tires. Michelin will exit from the activities related to compact line bias tires and construction tracks.
The acquisition is a significant milestone for CEAT in its ambition to become a leading global player in the high margin OHT segment. Over the last decade, CEAT has been focusing on building its OHT business, which now consists of 900+ product offerings and covers around 84% of the range requirement in the agricultural segment. Camso will give CEAT the ability to widen its product base into tracks and construction tires. More importantly, it will give CEAT access to a global customer base including over 40 international OEMs and premium international OHT distributors. CEAT brings in the ability for Camso to expand to other segments such as agriculture tires. Both brands are highly complementary in their positioning and capabilities.
Amit Tolani, Chief Executive, CEAT Specialty, said: “This acquisition is a transformative step for CEAT Specialty as it significantly enhances our capabilities in the Off Highway tyres and tracks segment. By integrating Camso’s manufacturing expertise and innovation-driven approach, we are poised to provide even greater value to our customers. We look forward to building on the legacy of the Camso brand while strengthening our position as a one stop shop of all off-highway tire and track needs.”
About CEAT ( www.ceat.com)
CEAT, an RPG Company, is one of India’s leading tire companies making passenger car, two-wheeler, truck and bus, light commercial and off highway tires. It caters to leading OEMs as well as domestic and international markets, exporting to 110+ countries. CEAT is the first tire brand globally and one amongst only 33 companies in the world ever to be awarded the Deming Grand Prize for its contribution to Total Quality Management. CEAT is also the first tire brand globally to be accorded ‘Lighthouse Designation’ for adoption of Industry 4.0 technologies by the World Economic Forum.
About RPG Enterprises (www.rpggroup.com)
RPG Enterprises is one of India’s fastest-growing business groups with a market capitalization of over USD 8 billion. The group has diverse business interests in Infrastructure, Tyres, Pharma, IT, Specialty, and innovation-led technology businesses. RPG Group companies include KEC International, CEAT, Zensar Technologies, RPG Life Sciences, Harrisons Malayalam, Raychem RPG, and Spencer International Hotels.
Read the full blogFri, 13 Dec 2024 company announcements
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CEAT Specialty + Massey FergusonCEAT Specialty + Massey Ferguson
CEAT Specialty strengthens its premium market presence in Europe through the fitment of its high-end Farmax agricultural tires on AGCO’s Massey Ferguson tractors, a leading name in the global agricultural machinery market.
The straightforward and dependable Massey Ferguson tractors fitted with CEAT Specialty Tires will first debut in the Massey Ferguson 5700 M series, with plans to extend across multiple product lines, further strengthening their long-standing collaboration.
The first to roll out in the CEAT-Massey Ferguson collaboration is the MF 5711 M 115 HP tractor, now equipped with CEAT Farmax R65 tires in sizes 440/65 R28 and 540/65 R38. With tilted lug tips for superior comfort, self-cleaning mud breakers, and a wider tread to minimize soil compaction, CEAT Farmax tires provide excellent roadability, long-lasting performance, and enhanced traction.
Further in the plans are CEAT Specialty’s advanced agricultural radials and innovative technology ranges engineered for diverse agricultural applications. CEAT Specialty’s top-selling tires, including Torquemax, Farmax R70 and Farmax R80, will also be seen rolling out in the near future. This partnership marks a significant milestone for CEAT Specialty, further strengthening its presence in the higher hp tractor segment.
The fitment highlights the continued global collaboration of AGCO - Massey Ferguson and CEAT Specialty, building on the success of their partnership in Brazil since 2021. Working alongside Massey Ferguson’s engineering and production center for higher hp tractors in Beauvais, France, the fitment exemplifies the seamless synergy between two industry leaders. Together, CEAT Specialty and AGCO are delivering the best of both worlds to farmers across Europe and beyond – high performance tractors paired with premium tires, engineered to meet the challenging demands of modern agriculture.
Commenting on this landmark collaboration, Amit Tolani, Chief Executive of CEAT Specialty, said: " Our collaboration with AGCO-Massey Ferguson’s European Operations represents a new chapter in the journey of CEAT Specialty. The CEAT Farmax tires, coupled with Massey Ferguson’s cutting-edge tractor technology, offer unparalleled performance and durability. Together, we are setting a new standard for excellence in the agri-equipment industry, empowering farmers with the best tools to meet their farming needs."
This partnership signals CEAT Specialty’s commitment to innovation and excellence, further enhancing its position in the premium agricultural tire segment.
Read the full blogFri, 22 Nov 2024 company announcements
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CEAT, a Proud History of Innovation and Quality ManufacturingCEAT, a Proud History of Innovation and Quality Manufacturing
CEAT, the flagship company of RPG Enterprises, was established in 1924 in Italy.
Today, CEAT is one of India’s leading tire manufacturers and has a strong presence in global markets, including North America. CEAT Specialty, which markets Ag, OTR, industrial and forestry tires, entered the North American market seven years ago and has received rave reviews on product quality.
CEAT received the distinction of being the first tire brand worldwide to be awarded the “Lighthouse Designation” by the World Economic Forum, recognizing its Halol plant in Gujarat for adoption of leading-edge technologies. Additionally, it is the first tire brand worldwide to have earned the prestigious Deming Prize from JUSE (Union of Japanese Scientists and Engineers).
Headquartered in Mumbai, CEAT has six state-of-the-art, technologically advanced manufacturing facilities and contributes to the global agenda of sustainable development through its innovative R&D centers at Halol and Frankfurt, Germany.
CEAT produces more than 41 million tires annually, serving both domestic and international markets with export to more than 110 countries. Its future as a global leader in tire manufacturing is, indeed, very bright!
Read the full blogMon, 21 Oct 2024 company announcements
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CEAT Renews Partnership with Torino Football Club for Another Two YearsCEAT Renews Partnership with Torino Football Club for Another Two Years
CEAT has renewed its partnership with Italian football club Torino Football Club for another two years. This extension cements the strong bond between the two brands, united by a shared passion for excellence, innovation and competitive spirit.
Amit Tolani, CEO of CEAT Specialty, expressed his excitement at the renewal of the partnership: “Renewing our partnership with Torino FC is more than just a collaboration; it is a celebration of our shared passion for agility, sportsmanship and the power of camaraderie. At CEAT Specialty, we believe that peak performance is driven by the same values that Torino FC embodies on the pitch. This alliance reflects our commitment to push boundaries, explore new frontiers and achieve excellence together in every path we take.”
CEAT, with a history of over a century, has deep-rooted ties with the Italian market. Hailing from Italy, the brand has a deep understanding of the local landscape, consumer preferences and industry dynamics. The partnership with Torino FC further cements CEAT’s presence in Italy, reinforcing its commitment to supporting local sports and contributing to Italy’s vibrant cultural scene.
CEAT has established itself as a major global player in sports partnerships, with a presence spanning various disciplines, from rodeo to football, cricket and motorsports, among others. Globally, CEAT’s long association with sports is evident through its strategic partnerships in cricket, including collaborations with Tata IPL, Tata WPL and leading cricketers. In recent years, CEAT has also strengthened its support for motorsports, supporting events such as the Indian Supercross Racing League and others.
About Torino FC
Turin Football Club, founded in1906, is one of the most traditional Italian football clubs. Winner of 7 league titles and 5 Italian Cups, Toro is known worldwide for its history and the passion of its fans.
About CEAT
Since its foundation in 1924, CEAT has been on a journey spanning almost a century, emerging as a leading global player in the tire manufacturing industry. A significant milestone was reached in 1958 when CEAT Tyres of India was established in partnership with RPG Group, signaling a strategic expansion into the burgeoning Indian tyre manufacturing market. Over the past century, CEAT has consolidated its position as a multinational powerhouse, shaping the tyre manufacturing landscape in India and beyond. Today, CEAT Specialty is at the forefront, offering a diversified portfolio of agricultural and off-road (OTR) tires, serving customers in over 120 countries worldwide.
Read the full blogFri, 27 Sep 2024 company announcements
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Working Towards a Smarter TomorrowWorking Towards a Smarter Tomorrow
CEAT is working towards a smarter tomorrow by investing in technological and R&D capabilities to deliver superior quality, innovative and customer-centric products.
The CEAT R&D centers in Germany and India are well-equipped with new simulation technologies and predictive testing.
An advanced state-gate new product development system ensures customer requirements are converted into product quality. A great example of CEAT’s “customer-centric products” is the FLOATMAX CARGO PLUS.
Brad Schmucker, owner of Millersburg Tire Service in Ohio, had been asking a leading tire manufacturer to build a 28LR26 tank tire for over 15 years, knowing that there was demand in the market for a quality high speed radial flotation tire. CEAT Specialty brought the FLOATMAX CARGO PLUS to market within one year, a timeframe practically unheard of in the tire industry.
With FLOATMAX CARGO PLUS installations happening on a regular basis now, it appears that the guys at Millersburg Tire Service knew what they were talking about . . . which is not at all surprising; you don’t stay in business as a tire dealer for decades without taking care of your customers with expertise and outstanding service.
Millersburg Tire Service began selling CEAT Ag tires seven years ago when CEAT entered the North American market.
“CEAT is a company that is willing to listen to the needs of its customers and tries to meet those requests. They are amazing to work with because they want dealer and customer input to help make them stronger in the market,” said John Miller of Millersburg Tire Service.
Read the full blogWed, 25 Sep 2024 company announcements
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CEAT Rides 100-Year History to Global SuccessCEAT Rides 100-Year History to Global Success
CEAT, the flagship company of RPG Enterprises, was established in 1924 in Italy. Today, CEAT is one of India’s leading tire manufacturers and has a strong presence in global markets.
CEAT Specialty, which markets Ag, OTR, industrial and forestry tires, entered the North American market seven years ago. The company has steadily been gaining market share thanks to outstanding product quality and customer service.
CEAT achieved the distinction of being the first tire brand worldwide to be awarded the “Lighthouse Designation” by the World Economic Forum, recognizing its Halol plant in Gujurat. Additionally, it is the 1st tire brand worldwide to have earned the prestigious Deming Grand Prize from JUSE (Union of Japanese Scientists and Engineers).
Headquartered in Mumbai, CEAT has six state-of-the-art, technologically advanced manufacturing plants and contributes to the global agenda of sustainable development through its innovative R&D centers at Halol and Frankfurt, Germany.
CEAT produces more than 41 million high-quality tires annually, serving both domestic and international markets, including 2-3 wheelers, passenger and utility vehicles, commercial vehicles and off-highway vehicles.
Read the full blogSun, 15 Sep 2024 company announcements
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Did You Know This About CEAT?Did You Know This About CEAT?
CEAT Specialty, which markets a full line of Ag, OTR, industry and forestry tires, has only been in North America for seven years, so you may be surprised to learn that the CEAT tire brand is 100 years old. Here are some other interesting CEAT factoids:
CEAT is a global tire company selling products in more than 110 countries.
CEAT is the only tire company in the world to receive the prestigious Deming Grand Prize for total quality management (TQM) excellence.
“CEAT” is pronounced “See Ott.”
CEAT Specialty has been sponsoring US professional and amateur rodeo associations for five years.
Tires made by CEAT Specialty consist of 34% of sustainable materials, including natural and reclaimed rubber, as well as plant-based resins.
CEAT Specialty brought 100 new tire sizes to the market in 2023.
CEAT Ag radials are backed with a seven-year manufacturer’s warranty and three-year field hazard warranty.
The CEAT Ambernath plant in India produces 105 tons of off-highway tires daily.
CEAT VF tires can carry 40% more load than standard Ag radials, or the same load at 40% less air pressure.
CEAT Specialty entered the North American forestry segment in 2024 with several innovative tires for forestry equipment.
Read the full blogTue, 27 Aug 2024 company announcements
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CEAT Joins Sustainable Natural Rubber (GPSNR) PlatformCEAT Joins Sustainable Natural Rubber (GPSNR) Platform
CEAT has announced its membership in the Global Platform for Sustainable Natural Rubber (GPSNR), a multi-stakeholder initiative dedicated to transforming the natural rubber industry into a more sustainable and equitable sector.
This move underscores CEAT’s commitment to Environmental, Social, and Governance (ESG) principles throughout its operations. By joining GPSNR, the company aims to:
- Enhance Supply Chain Traceability: Membership in GPSNR will allow CEAT to improve transparency and traceability within its natural rubber supply chain. This will ensure responsible sourcing practices and eliminate deforestation risks.
- Promote Sustainable Practices: CEAT will collaborate with other GPSNR members to promote environmentally friendly practices across the natural rubber industry. This includes advocating for responsible land use and minimizing the environmental impact of rubber production.
Amit Tolani, Chief Executive, CEAT Specialty, said: "We are proud to join the Global Platform for Sustainable Natural Rubber. This membership reflects our deep commitment to environmental and social responsibility. By working alongside other stakeholders in the industry, we can ensure a sustainable future for natural rubber production that benefits both the environment and the communities that rely on it."
About GPSNR
The Global Platform for Sustainable Natural Rubber (GPSNR) is a multi-stakeholder initiative that brings together producers, traders, manufacturers, civil society organizations, and governments to transform the natural rubber sector into one that is environmentally responsible, socially equitable, and economically viable.
About CEAT Specialty
Since its inception in 1924, CEAT has traversed nearly a century-long journey, emerging as a premier global player in the tire manufacturing industry. A significant milestone was reached in 1958 when CEAT Tyres of India was established in collaboration with the RPG Group, signalling a strategic expansion into India's burgeoning tire manufacturing market. Over the past century, CEAT has solidified its position as a multinational powerhouse, shaping the landscape of tire manufacturing in India and beyond. Today, CEAT Specialty stands at the forefront, offering a diverse portfolio of off-highway (OTR) and agricultural tires, serving customers across more than 120 countries worldwide. CEAT Specialty began selling a comprehensive line-up of OTR and Ag tires in North America six years ago.
Read the full blogFri, 26 Jul 2024 company announcements
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CEAT Specialty Awarded Prestigious Health and Safety Management AwardCEAT Specialty Awarded Prestigious Health and Safety Management Award
CEAT Specialty’s Ambernath Plant, which produces Ag radial tires for North America and other worldwide markets, has won a prestigious Sword of Honour from the British Safety Council.
The company, a division of CEAT Tires dedicated to producing Off-Highway (OHT) tires, with its dedicated Ambernath plant at the forefront of this manufacturing process, was one of 115 organizations worldwide that achieved a Sword of Honour, awarded to companies which have demonstrated excellence in the management of health and safety risks at work.
CEAT has been on quite a roll this month in terms of prestigious honors. Earlier this month, the company was awarded the Deming Grand Prize, considered one of the highest achievements in TQM (Total Quality Management) worldwide. In doing so, CEAT became the first tire brand and one of only 33 companies globally to receive the prestigious award.
In order to compete for the Sword of Honour, an organization first had to achieve the maximum five stars in British Safety Council’s health and safety management audit scheme. The qualification period for this is between 1 August 2022 and 31 July 2023. The organisation has also demonstrated to an independent panel of experts that it has achieved excellence in its health and safety management throughout the business – from the shop floor to the boardroom.
For the first time this year, a new Shield of Honour Award was also introduced for organizations which can demonstrate excellence in well being management.
Peter McGettrick, Chairman of British Safety Council, said: “On behalf of the board of trustees and staff of the British Safety Council I would like to congratulate CEAT Specialty on achieving the highest standards of its health and safety management. These awards recognize the commitment, dedication and absolute professionalism undertaken. We are proud to support your organization in its achievement and delighted we can contribute to your ongoing success.”
Mike Robinson, Chief Executive of British Safety Council, added: “I would like to congratulate CEAT Specialty and its staff on this award, in tribute to their commitment to keeping their workplace safe and healthy.
“All of the Sword and Globe – and now Shield – award-winning organizations share a commitment and resolve to achieve the uppermost standards of health and safety – or now wellbeing. We thank CEAT Specialty for contributing to achieving our vision that no-one should be injured or made ill through their work.”
Amit Tolani, Chief Executive, CEAT Specialty added “We take pride in winning the prestigious Sword of Honour from British Safety Council, a testament to our steadfast dedication to safeguarding the health and well-being of our employees and stakeholders. We remain committed to enhancing our health and safety management systems, aiming to uphold our status as an exemplary organization.”
Read the full blog
Sat, 14 Oct 2023 company announcements
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