CEAT Kelani invests in new advanced motorcycle tyre plant in Sri Lanka
View(s):A new state-of-the-art facility for the manufacture of motorcycle tyres for the local and international markets has been commissioned in Sri Lanka by CEAT Kelani Holdings.
Set up within the CEAT Kelani complex at Kelaniya with an initial investment of Rs. 95 million, the new plant will operate as Asian Tyres (Pvt) Ltd, a member of CEAT Kelani Holdings, according to a company media release.
It will have an initial capacity of 162,000 tyres a year in 17 sizes, some with all-new tread patterns that deliver improved performance in local conditions, the company said.
Commenting on this latest investment in capacity and category expansion in Sri Lanka, Vijay Gambhire, Managing Director and CEO of CEAT Kelani Holdings said the new plant would contribute to supplementary import substitution, enhance export earnings and further consolidate CEAT’s market share in the motorcycle tyre segment.
The company already accounts for 17 per cent of the motorcycle tyre market in Sri Lanka, in addition to its market shares of 30 per cent in the radial segment, 52 per cent in the Truck/Light Truck category, 48 per cent in the 3-Wheeler segment and 73 per cent in the agricultural tyre segment.
The new motorcycle tyre plant was formerly commissioned by Chanaka De Silva, Chairman of CEAT Kelani International Tyres (Pvt) Ltd. and Anant Goenka, Managing Director CEAT India, less than a year after CEAT Kelani Holdings officially inaugurated a new hi-tech Rs 600 million production facility in Sri Lanka for radial tyres for passenger cars and Sports Utility Vehicles (SUVs), taking its cumulative investment in the country since 2009 to Rs 2.5 billion.