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[Tire Market] CEAT Acquires Michelin Arm As Latter Enters SUV Tire Market In India
453 Views31 Dec 2024 15:00
Indian tire major CEAT, which is ranked fourth behind the other Indian majors MRF, Apollo, and JK Tyres, in terms of revenue, has announced a significant acquisition worth INR 2000 crore (US$225 million). It means CEAT acquiring Michelin’s Off-Highway Tire business in construction tires and tracks along with the Camso brand in an all-cash deal that pushes its stakes in the industry further.
What is covered in the Full Insight:
- Introduction to CEAT's Acquisition
- Details of the Michelin Deal
- Impact on CEAT's Market Position
- Michelin's Expansion in India
- Future Prospects and Challenges
SUMMARY
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