The transaction will include the business with revenues of about $213 million for CY2023 and global ownership of the Camso brand, along with two state-of-the-art manufacturing facilities.The manufacturing facilities being acquired are located in Sri Lanka.Camso is a premium brand in construction equipment tyre and tracks with strong equity and market position in European Union and North American aftermarket and OE segments. The Camso brand will be permanently assigned to CEAT across categories after a 3-year licensing period.CEAT said this acquisition will expand its product portfolio in the high margin Off-Highway Tyres (OHT) and tracks segments, which includes agriculture tyres and tracks, harvester tyres and tracks, power sports tracks and material handling tyres. Michelin will thus exit from the activities related to Compact Line bias tyres and Construction tracks.Camso will give CEAT the ability to widen its product base into tracks and construction tyres.

CEAT buys Camso's Off-Highway tyres

50,934,828,71,2067,3130

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