Colombo, Sri Lanka. May 30, 2025: CEAT OHT Lanka (Pvt) Limited. a wholly owned subsidiary of CEAT Limited. India reassures employees that their jobs are secure. following the recent acquisition. The company recognizes the importance of ensuring a smooth and transparent transition prioritizing the wellbeing and job security of all employees.
In December 2024. CEAT Ltd. the holding company. based in Mumbai. India. announced that they have entered into a definitive agreement to acquire CAMSO brand’s Off-Highway construction equipment bias tyre and tracks business from Michelin Lanka (PVT) Limited. This includes the Midigama plant. the Casting Product Division in Kotugoda and some parts of other divisions providing central services.
As part of the process. a tripartite Memorandum of Understanding involving CEAT OHT Lanka (Pvt) Limited. Michelin Lanka (Pvt) Limited and the Inter Company Employees Union has been signed on 22nd of May 2025. This agreement ensures 100% job security. continuity of past service. seniority. remuneration and benefits for employees.
With a presence in more than 120 countries. CEAT is driven by its strong commitment to employee care and overall workplace happiness. The company remains firmly dedicated to the commitments made under the agreements and will dedicate and mobilize all its available resources to grow the business.