CEAT Acquires Camso Construction Line

CEAT Ltd. has acquired Michelin Group's Camso construction compact line business, which includes tires.

"This transaction also grants CEAT global ownership of the Camso brand, which will be permanently assigned across categories after a three-year licensing period," note CEAT officials.

"CEAT’s acquisition of (the) Camso brand marks a major milestone in its journey to becoming a leading global player in the high-margin OHT (off-highway tire) segment.

"Over the past decade, CEAT has built a strong agricultural portfolio and with Camso's expertise in compact construction equipment tracks and tires, the combined strengths open doors to over 40 global OEMs and premium international OHT distributors. Michelin will exit from the activities related to compact line bias tires and construction tracks."

"The integration of Camso's premium brand and construction compact line manufacturing capabilities into CEAT is a transformative step in our journey,” says CEAT Specialty CEO Amit Tolani.