CEAT yet to decide on price revision

CEAT in a release says that they are yet to decide on the revision of prices for their products.

Managing Director, Kelani Tyres Plc, Rohan Fernando says that though rubber prices have come down they are not in a position to pass out this benefit to the customer.

"The cost of production (COP) of a tyre is influenced not only by the price of natural rubber but also many other raw materials such as nylon cord, carbon black, bead wire, chemicals and many other products the prices of which so far has not been reduced by international suppliers.

"Further, other domestic factors such as high electricity, fuel oil costs, high overhead, distribution expenses and the devaluation of the rupee which affects all raw materials negates the reduction in natural rubber prices so far seen and accordingly does not permit in any way a lowering of the selling prices in the near future', he said. CEAT Sri Lanka was not originally known as Kelani Tyres Ltd. CEAT Sri Lanka is a company of its own standing with three tyre manufacturing plants situated in Kalutara and Kelaniya and is a joint venture between CEAT Ltd India, Kelani Tyres PLC and Associated Motorways PLC., Sri Lanka.

Operations of CEAT Sri Lanka is headed by the Managing Director of CEAT Sri Lanka Randeep Narang.