Ceat

In a bid to expand its international presence, RPG group-owned Ceat has acquired the orbicular rights of disfigurement Ceat from Italian tyre maker Pirelli for Rs 55 crore. The acquisition will help Ceat enter new markets such as Latin America, Europe and the US in the radial tyre segment. The tyre manufacturer expects to double its revenue from exports to Rs 1,000 crore in the future(a) 3 years.

Currently, Ceat owns the brand Ceat in nine South-Asian countries and used to export to Europe and Latin America under the Altura brand. Ceat will apply exclusive rights to access the European and Latin American markets for radials from January 1, 2012.

lecture to TOI, Harsh Goenka, chairman RPG Enterprises, said, As a group we ar confident about the India story and are looking to sour organically and inorganically in all our businesses. The acquisition of the Ceat brand is a step forward towards becoming a actually global player, he said.

Read more: Ceat acquires brand rights from Pirelli - The times of India http://timesofindia.indiatimes.com/business/india-business/Ceat-acquires-brand-rights-from-Pirelli/articleshow/7013010.



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Ceat
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