According to PTI report quoting Ceat’s Deputy Managing Director Anant Goenka, tyre-maker Ceat will start commercial production at Gujarat based Halol facility by January next year.
The company has invested Rs 650-crore in the Halol plant which has a capacity to make 3,00,000 passenger car radial tyres (PCRs) and 40,000 truck and bus radial tyres (TBRs) in a month.
“We will be doubling our domestic outsourcing capacity for two-and-three-wheelers to 6-lakh tonnes per month from the present 2-lakh tonnes per month by April,” Goenka told PTI.
The RPG group company today in Mumbai announced the acquisition of the ‘Ceat’ brand from Italy-based Pirelli for Euro 9 million (Rs 55-crore), which would help the company double export to Rs 1,000-crore from the present Rs 500-crore in the next three-years.
Ceat manufactures over 10-million tyres per year and has a major market share in the light truck and truck tyre market. It offers the widest range of tyres to all user-segments and manufactures radials.