CEAT Ltd.
Ceat has appointed Phil Bradley as the tyre brand’s UK business development manager. In this new role, Bradley will spearhead the development of the brand in the UK, focusing on passenger car tyre lines along with other segments in due course.
The Competition Commission of India (CCI) investigation into alleged cartel activities and anti-competitive behaviour doesn’t exclusively focus on local tyre makers. Stock exchange Börse Frankfurt shares news from the German Press Agency (dpa) regarding the visit of CCI officials to a site operated by Continental AG in the city of Faridabad. The statement shares that Continental is “cooperating fully with the authorities” but does not want to comment on the details of this ongoing investigation.
Indian stock exchange BSE sought clarification from three tyre makers after media outlet CNBC-TV18 reported yesterday that the Competition Commission of India (CCI) had visited their premises as part of its investigation into alleged competition violation and cartelisation. One of the tyre firms, Apollo Tyres Ltd., responded to the BSE query earlier today. The other two manufacturers, Ceat Ltd. and MRF Ltd., have yet to reply.
On 31 January 2022 Kelani Tyres PLC announced plans from the Kelani Tyres/Ceat joint venture to invest up to 3.2 billion Sri Lanka rupees (£11.637 million; 13.915 million euros; US$15.801) in increasing its tyre manufacturing capacity via machinery upgrades.
Yesterday the Competition Commission of India (CCI) finally made public the news that back in 2018 it found five tyre makers and India’s tyre industry association guilty of contravening the provisions of India’s Competition Act by indulging in cartel activities in 2011 and 2012. All protagonists have been fined for their actions.
With exports of its off-highway tyres (OHT) particularly healthy at present, India’s Ceat Limited has decided to increase its strategic focus in this area and will more than double agricultural radial capacity by mid-2023. Existing plans to expand truck and bus radial (TBR) production are thus taking a back seat.
Indian manufacturer Ceat Limited intends to launch a range of truck radial tyres in Europe during the first half of this year. Speaking during an earnings call yesterday, managing director Anant Goenka said the range would arrive in “four to six months’ time” and further push the strong growth the company is already experiencing in the region. The line-up would be similarly positioned to the “Korean players” in the market, he added.
Tyre maker Ceat Limited, the flagship subsidiary of India’s RPG Group, reports that its net revenue increased 23.9 per cent year-on-year in the second quarter of its financial year, the three months to 30 September 2021, to Rs 24.52 billion (£237.51 million). Despite growing revenues, EBITDA shrank from Rs 3.06 billion to 2.25 billion (£21.79 million), and the margin contracted 6.3 percentage points to 9.2 per cent. Net profit stood at Rs 420 million (£4.07 million).
Roughly two years after he was appointed Ceat Ltd VP of marketing, Amit Tolani has been named chief executive of Ceat Specialty, effective 1 June 2021. Ceat Specialty has its EU office in Amsterdam and has been serving European farm and OTR tyre customers since 2017. Tolani joined Ceat in 2004 and has served in various roles across sales, marketing and supply chain functions. Prior to his latest appointment, he was the chief marketing officer of CEAT.
Tyre maker Ceat Limited has raised its shareholding in Indian online tyre retailer Tyresnmore Online Private Limited to 44.17 per cent. Ceat paid Rs 24 million (£234,000) to acquire an additional 3.47 per cent in the company.
We first saw the Ceat Torquemax tractor tyre at Agritechnica 2019, and Ceat Specialty has now expanded the range to include very high flexion tyres. The Torquemax VF, aimed at “farmers investing in tyres that offer greater operational efficiencies” for their high-horsepower tractors, is available in sizes VF 520/85R38 170 D TL and VF 710/70R42 185 D TL.
Pirelli is constructing a new tyre warehouse to serve its industrial hub at Settimo Torinese in partnership with BGO Logistic Fund 1, which is backed by investment from BentallGreenOak and managed by Kervis SGR SpA, with GSE Italis acting as general contractor. The project will redevelop the industrial area where the Ceat factory once stood near Pirelli’s industrial hub with a view to creating “greater efficiency and environmental benefits”. The project is scheduled to be completed in 2021.
India’s Ceat Limited is no newcomer to football, having sponsored Italian Serie A club Torino FC since 2018. Nor is the strategic partner to the Indian Premier League cricket cricket series a stranger to sports sponsorship within its homeland. But the tyre maker hasn’t engaged in football in India – until now. Ceat has signed on as the official tyre partner of Jamshedpur FC for the Indian Super League 2020-21.
Ceat Limited commissioned the second phase of its Nagpur plant in India’s Maharashtra state on Monday. The tyre maker says the two-wheeler tyre capacity added by this expansion project will be “be ramped up over a period of time, based on market demand and our overall capacities.”
Ever since Indian tyre maker Ceat established its Ceat Specialty Tyres Ltd. off-highway subsidiary in 2015, it has sought to raise its profile and boost business within the agricultural sector. But what products does the Mumbai-headquartered flagship company of RPG Enterprises, a company that produces over 15 million tyres annually, have under development to help farmers boost productivity? Dyutiman Chattopadhyay, vice president of R&D and Technology at Ceat Specialty, outlines the company’s plans.
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