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CEAT doubles revenue

Sri Lanka's top tyre manufacturer CEAT has doubled revenue over the past four years and recorded a ten fold growth in exports in the same period in a robust performance. The event was celebrated at a dealer awards function in Colombo last week.

More than 75 tyre dealers from all parts of Sri Lanka were honoured for their contributions to this growth, which has given CEAT a dominant market share of over 60 per cent in the segments in which it operates and takes on competition from many international brands.

Trophies were presented to the top tyre dealers.

CEAT Chairman Chanaka de Silva said substantial investments in technology upgrades and the support of CEAT India had underpinned a very successful 2004-05 for CEAT in Sri Lanka.

"The vast strides we have made in quality improvement are reflected in the very high customer satisfaction rating CEAT has received in an independent survey conducted recently," he said, adding that "we have very ambitious plans to enter into segments not covered at present, including the manufacture of radial tyres at both our plants in Sri Lanka."

CEAT Managing Director Oscar Braganza said CEAT had been one of the first companies to recognise the opportunities thrown up by the Free Trade Agreement with India. By September 2002, the company had exported 100 containers of tyres to India, and would reach a milestone 1500 export containers shortly.


 

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