CEAT (company)
CEAT Limited (formerly, Cavi Elettrici e Affini Torino)[4][5][6] is an Indian tyre manufacturing company owned by the RPG Group. It was established in 1924 in Turin, Italy. As of date, CEAT is one of India's leading tyre manufacturers and has a presence in global markets. CEAT produces over 165 million tyres a year and manufactures tyres for passenger cars, two-wheelers, trucks and buses, light commercial vehicles, earth-movers, forklifts, tractors, trailers, and auto-rickshaws. The current capacity of CEAT tyres' plants is over 800 tonnes per day.[7]
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Formerly | Cavi Elettrici e Affini Torino |
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Type | Public |
Industry | Tyres & Tubes |
Founded | Turin, Italy (1924 ) |
Founders | Virginio Bruni Tedeschi |
Headquarters | Worli, Mumbai, India |
Key people | Harsh Goenka (Chairman) Anant Goenka (MD) |
Revenue | ![]() |
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Total equity | ![]() |
Number of employees | ~8,000 |
Parent | RPG Group |
Website | ceat |
History
![](../I/2017-09-01_(259)_Ceat_Formula_Winter_175-70_R_13_82_T_tire_at_Bahnhof_Ybbs_an_der_Donau.jpg.webp)
The company was founded as Cavi Elettrici e Affini Torino (Electrical Cables and Allied Products of Turin) by Virginio Bruni Tedeschi[8] in 1924, in Turin, Italy.[9] On 10 March 1958, the company was incorporated as CEAT Tyres of India, in Mumbai. Initially, the company collaborated with the Tata Group.[10] In 1972, the company set up a research and development unit at Bhandup. In 1981, Deccan Fibre Glass Limited was merged with the company.[11][12]
In 1982, RPG Group acquired the company, and in 1990, the company was renamed as CEAT.[10] In 1993, the company collaborated with Yokohama Rubber Company, to manufacture radial tyres at their Nashik unit.[13] In 1999, CEAT formed a joint-venture, named as CEAT Kelani, with Asia MotorWorks (AMW) and Kelani Tyres, to manufacture and market[14] CEAT tyres in Sri Lanka. in 2006, CEAT Kelani commissioned their first Sri Lanka-based radial-tyre manufacturing unit in Kalutara.[13] In 2009, AMW exited the joint-venture.[15]
Products
CEAT manufactures tyres[16] for various types of vehicles like heavy commercial vehicles, light commercial vehicle, off-highway tyres, passenger cars, tractors, motorcycles and scooters, cycles and SUVs. It exports to countries across the Africa, Americas, Australia, and Asia.[10]
Sponsorship
CEAT is the bat sponsor of cricketers Rohit Sharma, Shreyas Iyer, Mayank Agarwal, Ajinkya Rahane, Ishan Kishan[17] Shubman Gill,[18] and Harmanpreet Kaur.[19][20] From 2015–18, CEAT sponsored the strategic-timeout for the Indian Premier League (IPL).[21]
References
- "Ceat". moneycontrol.com.
- https://beta.bseindia.com/stock-share-price/financials/results/500878/
- "Add Ceat, target price Rs 923: ICICI Securities". The Economic Times. 2 June 2020.
- Limited, CEAT. "CODE OF FAIR DISCLOSURE AND CONDUCT" (PDF).
- "What's in that name?". @businessline. Retrieved 9 September 2020.
- "CEAT: its past and its present – Aragorn Group". Retrieved 9 September 2020.
- – About us
- "Ceat Tyres Limited". crunchbase.
- "What's in that name?". @businessline. Retrieved 4 December 2018.
- "CEAT: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of CEAT - NDTV". www.ndtv.com. Retrieved 4 December 2018.
- "Ceat History | Ceat Information - The Economic Times". economictimes.indiatimes.com. Retrieved 4 December 2018.
- Oberoi, Rahul (24 April 2020). "Watch out 94 big winners of last four bull markets! They may surprise again". The Economic Times.
- Standard, Business. "CEAT Company History - Business Standard News | Page 1". www.business-standard.com. Retrieved 4 December 2018.
- "Buying opportunity for investors as Sensex, Nifty off 34% from record highs; 3 stocks set to rise up to 26%". The Financial Express. 20 April 2020.
- Today, Business. "BUSINESS TODAY -CEAT Kelani Holdings A Synergy Driven By Quality And Reliability". www.businesstoday.lk. Retrieved 4 December 2018.
- "Tyre makers likely to see demand revival on govt's rural boost; CEAT, Apollo, JK Tyre in focus". Moneycontrol.
- Laghate, Gaurav (22 October 2016). "CEAT signs four-year endorsement deal with Ajinkya Rahane". The Economic Times. Retrieved 4 December 2018.
- Laghate, Gaurav (31 October 2018). "CEAT extends bat deal with Rohit Sharma by 3 years". The Economic Times. Retrieved 4 December 2018.
- "Harmanpreet Kaur inks cricket bat deal with CEAT". Retrieved 4 December 2018.
- Sharma, Harsh (26 November 2018). "Women in Blue marching into Men's commercial domain - InsideSport". InsideSport. Retrieved 4 December 2018.
- Dasgupta, Pritha Mitra (12 March 2015). "CEAT Tyres to sponsor IPL strategic timeout". The Economic Times. Retrieved 4 December 2018.