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Associated CEAT, the Sri Lanka-India joint venture tyre manufacturer recorded a significant milestone last week with the flagging off of its 100th container of locally manufactured commercial vehicle tyres to India under the Indo-Lanka Free Trade Agreement (FTA).

Eight months since it began exports under the FTA, the company has exported tyres for trucks, buses, light trucks, tractors, tractor trailers and animal-drawn vehicles to India to the value of Rs. 150 million. The 100th container was flagged off by the Minister of Commerce and Consumer Affairs Ravi Karunanayake, at a ceremony organised by the company at its Kelaniya plant. Managing Director of CEAT-Kelani Associated Holdings Ramesh Ramanathan said that CEAT's exports under the FTA is a clear example of a local company that has successfully utilised concessions granted under the FTA for growth in its business.

CEAT-Kelani Associated Holdings Chairman Chanaka de Silva said: "We anticipate that CEAT's exports will top 3,000 metric tons by the end of the current financial year and that this will have a very positive impact on capacity utilisation of resources of the company," he said. "The complete elimination of customs duty under the FTA, expected in January 2003 will further enhance its potential."

"The demand in India for tyres manufactured in Sri Lanka has been tremendous. We have succeeded in achieving this milestone through adherence to stringent quality standards in the entire production process," he said.

Associated CEAT (Pvt) Ltd., (ACPL) and CEAT Kelani International Tyres (Pvt) Ltd., (CKITL) have also been exporting significant volumes of locally manufactured tyres to countries in the SAARC region and to Dubai, Singapore, Philippines and Africa.

Associated CEAT commenced operations in Sri Lanka in 1993 and entered into a strategic alliance with Kelani tyres in 1999. The company is the only pneumatic tyre manufacturer in Sri Lanka to receive ISO 9002 accreditation.

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Copyright 2001 The Associated Newspapers of Ceylon Ltd.
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