President Ranil Wickremesinghe, praised CEAT-Kelani Tyres for its remarkable journey from a state-owned enterprise to a symbol of successful privatization during an event marking 25 years of business excellence.
Addressing the audience at the celebration, President Wickremesinghe reminisced about the challenging birth of Kelani Tyres and the pivotal role it played in Sri Lanka’s history.
“Kelani Tyres was situated in Kelaniya, adjacent to Biyagama, which falls within my electorate. When I assumed the role of Minister of Industries, Kelani Tyres had earned its reputation.” President Wickremesinghe highlighted the tough decisions and battles faced in the process of privatization.
“A decision was reached to sell off Kelani Tyres. We initiated the standard process and requested bids. There was an initial bidder, but for reasons unknown, President Ranasinghe Premadasa did not favor it.”
This scenario repeated twice with present chairman, CEAT Chanaka de Silva being the primary bidder each time, yet he remained unsatisfied. The situation remained the same on the third attempt as well. “At this juncture, we had to make a decision, one that would determine whether we were selecting the best bid or favoring industry giants. The next stage involved CEAT and Kelani uniting, a partnership forged in Balapitiya between two leading families (Silva and Soysa) and finally the company was formed.
President hailed CEAT-Kelani as a model of Indo-Lanka cooperation, serving as an example for those seeking to enter the Sri Lankan market. “This partnership exemplifies successful Indo-Lanka cooperation, serving as a model for those considering entering the Sri Lankan market,” he commented. CEAT Kelani Holdings manufactures nearly half of Sri Lanka’s pneumatic tyre requirements and exports about 20% of its production to 16 countries in South Asia, the Middle East, Africa and the Far East. President Wickremesinghe commended the hard work that transformed CEAT-Kelani into a success story.
“I thank you for your efforts, and I hope that the next 25 years will see you as competitive exporters of Sri Lankan goods,” he said in conclusion. CEAT-Kelani Tyres has become a key player in Sri Lanka’s economic landscape, with a cumulative investment of over Rs. 8 billion, significant exports, and a commitment to technological advancements and new product development.
“CEAT’s journey is a testament to the potential of collaboration between Sri Lanka and India and a model of successful privatization.”
Several Ministers, MPs, opposition parliamentarians, businessmen, Chairman CEAT Kelani Holdings, Chanaka de Silva, Vice Chairman, Tilak de Zoysa, Executive Director, Rohan Tilak Fernando, Board Members of CEAT Kelani Holdings participated.
