CEAT to double its business in Europe in next 2-3 years
ROADS & HIGHWAYS

CEAT to double its business in Europe in next 2-3 years

CEAT Limited plans to expand its business in Europe in the next two-three years, benefitting from anti-dumping duties levied on Chinese tyres worldwide. Further, the company plans to participate in the growing North American market.

Managing Director of CEA, Anand Goenka, told the media that the company's international demand is robust and has a robust overseas opportunity.The company can further double its sales in the European market over the next 2-3 years.There is an anti-dumping duty on Chinese tyres in America and Europe.

He added that the company expects the international business to expand at a compounded annual rate of 20% in the coming years.

It will also come as a respite for the company when high input costs had pressure on marginal costs and impacted the domestic demand.The company has witnessed a Rs 20 crore loss in the rubber and crude oil prices in the October-December quarter to high input costs.

The company acquires a fifth of its revenue from the international market, with a quarter of that coming from the European market.

Goenka said that CEAT plans to generate incremental sales from the continent. It also plans to enter markets like Germany and France and launch new varieties of tyres in the existing markets.

Additionally, the company is developing a variety of tyres for the US, which is expected to be complete in 12-18 months.

There is a robust demand for off-highway tyres from the existing markets. Currently, there is a shortage of off-highway tyres in the market.The company's capacities are being fully utilised, and the company will be increasing its manufacturing capacity in the off-highway sector.

Image Source

Also read: CEAT records net loss of Rs 20 cr in December end quarter

CEAT Limited plans to expand its business in Europe in the next two-three years, benefitting from anti-dumping duties levied on Chinese tyres worldwide. Further, the company plans to participate in the growing North American market. Managing Director of CEA, Anand Goenka, told the media that the company's international demand is robust and has a robust overseas opportunity.The company can further double its sales in the European market over the next 2-3 years.There is an anti-dumping duty on Chinese tyres in America and Europe. He added that the company expects the international business to expand at a compounded annual rate of 20% in the coming years. It will also come as a respite for the company when high input costs had pressure on marginal costs and impacted the domestic demand.The company has witnessed a Rs 20 crore loss in the rubber and crude oil prices in the October-December quarter to high input costs. The company acquires a fifth of its revenue from the international market, with a quarter of that coming from the European market. Goenka said that CEAT plans to generate incremental sales from the continent. It also plans to enter markets like Germany and France and launch new varieties of tyres in the existing markets. Additionally, the company is developing a variety of tyres for the US, which is expected to be complete in 12-18 months. There is a robust demand for off-highway tyres from the existing markets. Currently, there is a shortage of off-highway tyres in the market.The company's capacities are being fully utilised, and the company will be increasing its manufacturing capacity in the off-highway sector. Image Source Also read: CEAT records net loss of Rs 20 cr in December end quarter

Next Story
Real Estate

Sources Unlimited Launches Aurora Collection Inspired by Twilight

Sources Unlimited unveils the Aurora Collection, a luxury lighting series inspired by the soft glow before dawn. Featuring spherical forms and metallic accents, the collection plays with reflections and shadows, enhancing interiors with layered illumination. Designed for floors, tables, ceilings, and walls, Aurora seamlessly integrates into diverse spaces, from homes to hospitality settings. Now available at Sources Unlimited, the collection redefines lighting as an artistic medium, transforming spaces with warmth, nostalgia, and timeless beauty...

Next Story
Real Estate

Build Capital Exits Second SRA Project Investment Near BKC

Build Capital has successfully exited its investment in an SRA project near Bandra-Kurla Complex, marking another milestone in its structured real estate financing strategy. The early-stage investment helped the developer complete rehab work and align the project with DCPR 2034, enhancing total economics. With a 2.25 lakh sq. ft. development potential and projected revenue of over Rs 7.25 billion, the project generated a 19.76 per cent IRR with 100 per cent on-time interest payments. Commenting on the milestone, Kuldeep Jain, CEO of Build Capital, stated: “Our strategic funding and acti..

Next Story
Real Estate

Küche7 Unveils Affogato: A Fusion of Luxury and Function

Küche7, India’s luxury stainless steel kitchen specialist, has launched Affogato, a sculptural kitchen design that merges aesthetics with functionality. Featuring deep brown panels with a brownstone texture, a curved marble-topped island, and a seamlessly integrated gas cooktop, Affogato redefines culinary spaces. Thoughtfully designed storage ensures a clutter-free experience, while soft grey flooring and an inlaid ceiling complete its refined appeal. More than a kitchen, Affogato embodies slow li..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?