23 May 2006
Kelaniya, Sri Lanka - Local newspapers are reporting that Ceat's modest radial tyre project in Sri Lanka will be on stream by August of this year. The investment is SL Rs 350 million (Euro 2.65 million). The company will initially produce two ranges of radials, one for cars and the other for vans, in the most popular sizes in the local market. Exports will start from October onwards.
The range is to be expanded further in phases. Technology for the project is from CEAT Sri Lanka's parent company in India that has been manufacturing radials for the past ten years. The company said it was expecting to source equipment from India or China.
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