CEAT (company)

Cavi Electrici e Affini Torino, commonly known by the abbreviation CEAT, is the flagship company of RPG Group. It was established in 1924 in Turin, Italy. As of date, CEAT is one of India's leading tyre manufacturers and has 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.[3]

CEAT
Public
Traded as
IndustryTyres & Tubes
FoundedTurin, Italy (1924 (1924))
FoundersVirginio Bruni Tedeschi
HeadquartersWorli, Mumbai, India
Key people
Harsh Goenka (Chairman)
Uh Anant Goenka (MD)
Revenue ₹63,302.5 million (US$890 million) (FY 2017–18)[1]
₹2,787.2 million (US$39 million) (FY 2017–18)[1]
Total equity₹404.5 million (US$5.7 million) (FY 2017–18)[2]
Number of employees
~8,000
ParentRPG Group
Websiteceat.com

History
Ceat Formula Winter

The company was founded as Cavi Electrici e Affini Torino (Electrical Cables and Allied Products of Turin) by Virginio Bruni Tedeschi[4] in 1924, in Turin, Italy.[5] On 10 March 1958, the company was incorporated as CEAT Tyres of India, in Mumbai. Initially, the company collaborated with the Tata Group.[6] In 1972, the company set up a research and development unit at Bhandup. In 1981, Deccan Fibre Glass Limited was merged with the company.[7], [8]

In 1982, RPG Group acquired the company, and in 1990, the company was renamed as CEAT.[6] In 1993, the company collaborated with Yokohama Rubber Company, to manufacture radial tyres at their Nashik unit.[9] In 1999, CEAT formed a joint-venture, named as CEAT Kelani, with Asia MotorWorks (AMW) and Kelani Tyres, to manufacture and market[10] CEAT tyres in Sri Lanka. in 2006, CEAT Kelani commissioned their first Sri Lanka-based radial-tyre manufacturing unit in Kalutara.[9] In 2009, AMW exited the joint-venture.[11]

Products

CEAT manufactures tyres 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.[6]

Sponsorship

CEAT is the bat sponsor of cricketers Rohit Sharma, Mayank Agarwal, Ajinkya Rahane, Ishan Kishan [12] Shubman Gill,[13] and Harmanpreet Kaur.[14][15] From 2015–18, CEAT sponsored the strategic-timeout for the Indian Premier League (IPL).[16]

References
  1. "Ceat". moneycontrol.com.
  2. https://beta.bseindia.com/stock-share-price/financials/results/500878/
  3. – About us
  4. "Ceat Tyres Limited". crunchbase.
  5. "What's in that name?". @businessline. Retrieved 4 December 2018.
  6. "CEAT: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of CEAT - NDTV". www.ndtv.com. Retrieved 4 December 2018.
  7. "Ceat History | Ceat Information - The Economic Times". economictimes.indiatimes.com. Retrieved 4 December 2018.
  8. Oberoi, Rahul (24 April 2020). "Watch out 94 big winners of last four bull markets! They may surprise again". The Economic Times.
  9. Standard, Business. "CEAT Company History - Business Standard News | Page 1". www.business-standard.com. Retrieved 4 December 2018.
  10. "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.
  11. Today, Business. "BUSINESS TODAY -CEAT Kelani Holdings A Synergy Driven By Quality And Reliability". www.businesstoday.lk. Retrieved 4 December 2018.
  12. Laghate, Gaurav (22 October 2016). "CEAT signs four-year endorsement deal with Ajinkya Rahane". The Economic Times. Retrieved 4 December 2018.
  13. Laghate, Gaurav (31 October 2018). "CEAT extends bat deal with Rohit Sharma by 3 years". The Economic Times. Retrieved 4 December 2018.
  14. "Harmanpreet Kaur inks cricket bat deal with CEAT". Retrieved 4 December 2018.
  15. Sharma, Harsh (26 November 2018). "Women in Blue marching into Men's commercial domain - InsideSport". InsideSport. Retrieved 4 December 2018.
  16. Dasgupta, Pritha Mitra (12 March 2015). "CEAT Tyres to sponsor IPL strategic timeout". The Economic Times. Retrieved 4 December 2018.
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