Ceat Announces Plans for Bangladesh Plant
of the 2013 Indian financial year and the Business Line quotes Ceat deputy managing director Anant Goenka as stating truck and light truck tires will account for 80% of total production capacity; the rest will be for two- and three-wheelers. Speaking with the Press Trust of India, Ceat managing director Paras Chowdhary also shared that
Ceat Blames Strike for Weaker Quarter Profit
India’s Ceat Ltd. has released its results for the quarter between Oct. 1 Dec. 31, 2011, a period in which net sales rose 18.2% to Rs 10.48 billion. Yet the tiremaker reports that "results for the quarter were adversely impacted by an illegal strike of workers at (the) Nasik factory," which lasted from Sept. 30
Ceat Profits Fall on Increased Costs
Diminished profits are the order of the day in Ceat Ltd.’s audited financial results for the financial year ended Mar. 31. Performance in the final quarter impacted on the Indian manufacturer’s performance, and despite annual income growing 24.2% to Rs 35163.3 million, annual net profit plummeted from Rs 1610.3 million at the end of 2010
NR Pushes Ceat Price Hike
Toward the end of May, new prices will come into effect for Ceat products across India. Anarb Banarjee, the tiremaker’s executive director, told the Press Trust of India that "we have decided to jack-up the selling price of all types of tires" due to "unbearable" current increase in natural rubber prices. Price increases of between
Ceat Buys Its Name Back from Pirelli
India’s Ceat Ltd. now holds global ownership of the Ceat brand name after purchasing the rights from Pirelli SpA for 9 million euros. The company is said to have made an upfront payment of 4.5 million euros to Pirelli with a bank guarantee for the balance. The purchase allows Ceat to export tires under the
Ceat Opens Dubai Tire Office
To best meet growing demand for its tires in the Middle East, Indian manufacturer Ceat has established a new Dubai office. The operation is to be headed up by Pawan Rana. “Middle East is an extremely important market for us, we are doing well in this region and also have an established network of distributors,”
Waste Tyres to Power Ceat Plant?
India’s RPG Enterprises is considering generating power from waste rubber at its Ceat Tyres factory.
Ceat Considering 3%-5% Price Increases
Ceat managing director Paras K. Chowdhary said the Indian manufacturer will have to increase tyre prices by up to 5% in October if rubber prices, which climbed 10% to 15% in the last quarter, remain high.
Ceat Tyres Inaugurates First Wheel Management Centre
In India Ceat Tyres has opened its first wheel management centre at Sankagiri in Tamil Nadu.
Net Loss for Ceat in Last Quarter
India’s Ceat Ltd. has reported a net loss for the quarter year to Dec. 31, 2008.