CEAT share price rises more than 10% to record high on acquisition of Camso’s off-highway tire and track business

seat The share price jumped more than 10% to a record high after the company announced it has entered into a definitive agreement to acquire Camso brand of off-highway construction equipment bias tire and track business from Michelin in a cash deal worth about $225 million. But reached.

The transaction will include a business with revenues of approximately $213 million for CY 2023 and global ownership of the Camso brand along with two manufacturing facilities.

“The acquisition will expand seat“The product portfolio in the high-margin off-highway tires (OHT) and tracks segment includes agricultural tires and tracks, harvester tires and tracks, power sports tracks and material handling tires,” CEAT said in a regulatory filing on December 6.