CEAT doubles revenue
Sri Lanka's top tyre manufacturer CEAT has doubled revenue over the
past four years and recorded a ten fold growth in exports in the same
period in a robust performance. The event was celebrated at a dealer
awards function in Colombo last week.
More than 75 tyre dealers from all parts of Sri Lanka were honoured
for their contributions to this growth, which has given CEAT a dominant
market share of over 60 per cent in the segments in which it operates
and takes on competition from many international brands.
Trophies were presented to the top tyre dealers.
CEAT Chairman Chanaka de Silva said substantial investments in
technology upgrades and the support of CEAT India had underpinned a very
successful 2004-05 for CEAT in Sri Lanka.
"The vast strides we have made in quality improvement are reflected
in the very high customer satisfaction rating CEAT has received in an
independent survey conducted recently," he said, adding that "we have
very ambitious plans to enter into segments not covered at present,
including the manufacture of radial tyres at both our plants in Sri
CEAT Managing Director Oscar Braganza said CEAT had been one of the
first companies to recognise the opportunities thrown up by the Free
Trade Agreement with India. By September 2002, the company had exported
100 containers of tyres to India, and would reach a milestone 1500
export containers shortly.