Ceat completes acquisition of Camso OHT, tracks business

Tyre maker Ceat on Monday said it has completed the acquisition of Michelin Group's Camso off-highway tyres and tracks business.

The company had entered into a definitive agreement with Michelin in December last year to acquire the business.

"The integration of compact construction equipment business and the acquisition of the CAMSO brand is a pivotal step in advancing Ceat's long-term vision of becoming a significant player in Off Highway mobility," Ceat MD & CEO Arnab Banerjee said in a regulatory filing.

The company is confident that enhanced strengths in products, capabilities, and markets will enable it to enter new geographies, expand portfolio, and drive sustainable growth in the years ahead, he added.

Camso is a premium brand in construction equipment tyres and tracks with strong equity and market position in the EU and North American aftermarket and OE segments.