Ceat to acquire Camso from Michelin

Indian tyre manufacturer Ceat, has agreed to acquire the Camso brand’s off-highway construction equipment bias tyre and tracks business from Michelin, in an all-cash deal valued at about $225 million (c. €212m).

The transaction will also include the global ownership of the Camso brand and its employees, along with two manufacturing facilities in Sri Lanka.

Ceat says it will leverage this acquisition to strengthen its Off-Highway Tyres (OHT) and tracks portfolio, gaining access to premium international markets and over 40 OEMs.

Ceat plans to permanently acquire the Camso brand across all categories after a three-year licensing period.

The transaction is subject to regulatory approvals from relevant authorities.