CEAT buys global rights of CEAT Brand from Pirelli

CEAT, the RPG Group's tyre production company, recently took over the CEAT tyre brand from Pirelli, the Italian company. As per the company's spokesperson, the company acquired the Ceat label from the Italian company Pirelli for Rs 55 crore (9 million Euro). After the acquisition, the firm will be empowered to ship the cross-ply and radial tyres with the Ceat brand across globe.

Anant Goenka, the Deputy Managing Director of Ceat Limited said that, this take over will open new avenues for the Ceat radical tyres in African, Latin American and European auto sectors.

Pirelli owned the Ceat name in the different parts of the world. At Present, Ceat tyres with the brand name of Ceat is sold in nine different South Asian Countries- India, Bangladesh, Sri Lanka, Pakistan, Nepal, Myanmar, Vietnam and Afghanistan. Ceat enjoys a reputed brand name among its customers in these markets.

Goenka added that, Ceat will now be one brand which will be sold in the markets. The company is hopeful to bring it as a brand and take advantage of the Ceat trademark. The brand expansion will mean exploring the new market areas where the company is already established or is entering new markets with better pricing.

Pirelli, the Italian industrial company is an established name in 160 or more countries. The Italian tyre company is the fifth biggest tyre maker worldwide if looked at the gross sales. In four continents, the Italian tyre manufacturer owns 20 factories and is well known as leaders in high technology and high end market segments.

At present, the tyre maker ships the goods in South America and Europe in the “Altura” brand. The same brand will be exported under the Ceat brand, which already holds a good reputation in these markets. This take over will also help Ceat brand to acquire tyres from other countries in the Ceat trademark.

Goenka also said that all of the Ceat's rights, interest and titles will be given to the Ceat Limited, where the Italian brand Pirelli is already registered under the Ceat trademark.

Ceat enjoys a major market share in truck tyre market and light truck tyre manufacturing of more than 10 million tyres annually. The company has the widest range to select from and targets all consumers by manufacturing high quality radical tyres in India.

Read More on : Toyota Etios review