CEAT (company)

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CEAT Limited
FormerlyCavi Elettrici e Affini Torino
TypePublic
IndustryTyres & Tubes
FoundedTurin, Italy (1924; 97 years ago (1924))
FoundersVirginio Bruni Tedeschi
HeadquartersWorli, Mumbai, India
Key people
Harsh Goenka (Chairman)
Anant Goenka (MD)
RevenueIncrease ₹63,302.5 million (US$840 million) (FY 2017–18)[1]
Increase ₹2,787.2 million (US$37 million) (FY 2017–18)[1]
Total equityIncrease ₹404.5 million (US$5.4 million) (FY 2017–18),[2][3]
Number of employees
~8,000
ParentRPG Group
Websiteceat.com

CEAT Limited (formerly, Cavi Elettrici e Affini Torino)[4][5][6] is an Indian multinational tyre manufacturing company owned by the RPG Group. It was established in 1924 in Turin, Italy. It 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]

History[]

Ceat Formula Winter

The company was founded as Cavi Elettrici e Affini Torino (Electrical Cables and Allied Products of Turin) by Virginio Bruni Tedeschi in 1924, in Turin, Italy.[8] On 10 March 1958, the company was incorporated as CEAT Tyres of India, in Mumbai. Initially, the company collaborated with the Tata Group.[9] In 1972, the company set up a research and development unit at Bhandup. In 1981, Deccan Fibre Glass Limited was merged with the company.[10][11]

In 1982, RPG Group acquired the company, and in 1990, the company was renamed as CEAT.[9] In 1993, the company collaborated with Yokohama Rubber Company, to manufacture radial tyres at their Nashik unit.[12] In 1999, CEAT formed a joint-venture, named as CEAT Kelani, with Asia MotorWorks (AMW) and Kelani Tyres, to manufacture and market[13] CEAT tyres in Sri Lanka. in 2006, CEAT Kelani commissioned their first Sri Lanka-based radial-tyre manufacturing unit in Kalutara.[12] In 2009, AMW exited the joint-venture.[14]

Products[]

CEAT manufactures tyres[15] 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 Asia.[9]

Sponsorship[]

CEAT is the bat sponsor of cricketers Rohit Sharma, Shreyas Iyer, Mayank Agarwal, Ajinkya Rahane[16][17] and Harmanpreet Kaur.[18][19] From 2015–18, CEAT sponsored the strategic-timeout for the Indian Premier League (IPL).[20]

References[]

  1. ^ a b "Ceat". moneycontrol.com.
  2. ^ "Stock Share Price | Get Quote | BSE".
  3. ^ "Add Ceat, target price Rs 923: ICICI Securities". The Economic Times. 2 June 2020.
  4. ^ Limited, CEAT. "CODE OF FAIR DISCLOSURE AND CONDUCT" (PDF).
  5. ^ "What's in that name?". @businessline. Retrieved 9 September 2020.
  6. ^ "CEAT: its past and its present – Aragorn Group". Retrieved 9 September 2020.
  7. ^ – About us
  8. ^ "What's in that name?". @businessline. Retrieved 4 December 2018.
  9. ^ a b c "CEAT: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of CEAT - NDTV". www.ndtv.com. Retrieved 4 December 2018.
  10. ^ "Ceat History | Ceat Information - The Economic Times". economictimes.indiatimes.com. Retrieved 4 December 2018.
  11. ^ Oberoi, Rahul (24 April 2020). "Watch out 94 big winners of last four bull markets! They may surprise again". The Economic Times.
  12. ^ a b Standard, Business. "CEAT Company History - Business Standard News | Page 1". Business Standard India. Retrieved 4 December 2018.
  13. ^ "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.
  14. ^ Today, Business. "BUSINESS TODAY -CEAT Kelani Holdings A Synergy Driven By Quality And Reliability". www.businesstoday.lk. Retrieved 4 December 2018.
  15. ^ "Tyre makers likely to see demand revival on govt's rural boost; CEAT, Apollo, JK Tyre in focus". Moneycontrol.
  16. ^ Laghate, Gaurav (22 October 2016). "CEAT signs four-year endorsement deal with Ajinkya Rahane". The Economic Times. Retrieved 4 December 2018.
  17. ^ Laghate, Gaurav (31 October 2018). "CEAT extends bat deal with Rohit Sharma by 3 years". The Economic Times. Retrieved 4 December 2018.
  18. ^ "Harmanpreet Kaur inks cricket bat deal with CEAT". Retrieved 4 December 2018.
  19. ^ Sharma, Harsh (26 November 2018). "Women in Blue marching into Men's commercial domain - InsideSport". InsideSport. Retrieved 4 December 2018.
  20. ^ Dasgupta, Pritha Mitra (12 March 2015). "CEAT Tyres to sponsor IPL strategic timeout". The Economic Times. Retrieved 4 December 2018.
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