CEAT to Commission Sri Lankan Radial Plant in July
Tyre manufacturer CEAT has said that it will commission its radial tyre factory – the only radial plant on the island – this July and be supplying radial tyres to the local market in August, with exports beginning in October. The factory cost 350 million rupees (six million euros) and will produce two ranges of tyres; one for cars and one for vans. Initially the range will comprise the most popular sizes, with others added at a later date.
The car tyre range will be branded “Formula 1 Steel” and the van radial range is called “Rhino”. Distribution in Sri Lanka – where CEAT claims a market share in excess of 50 per cent for trucks, light trucks, farm tyres and three wheelers – will be carried out by CEAT’s 450-strong dealer network.
The radial technology used in the new factory comes from CEAT’s parent company in India, which has been producing radials for a decade. Speaking about the new radial ranges, K. Ravi Shankar, CEAT Sri Lanka’s General Manager Marketing and Sales, said: “We believe that our new radial range will satisfy the requirements of a high percentage of the vehicles on Sri Lankan roads and represent a competitive, value-for-money option.”
CEAT Sri Lanka already has a tyre manufacturing facility at Kalutara and at Kelaniya, where the new radial plant is situated alongside the existing factory.