CEAT OHT Lanka (Pvt) Ltd., a wholly-owned subsidiary of CEAT Limited, India reassures employees that their jobs are secure, following the recent acquisition.

The company recognises the importance of ensuring a smooth and transparent transition prioritising 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) Ltd.

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 (MoU) involving CEAT OHT Lanka (Pvt) Ltd., Michelin Lanka (Pvt) Ltd. and the Inter Company Employees Union was signed on 22 May.

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 mobilise all its available resources to grow the business.