Wed, 24 Apr 2024
17:36:38
Market Focus:
23 Feb 2013
16:16:19
CEAT says has significant focus on Sri Lanka
Feb 23, 2013 (SLBO) - While CEAT see the growth in exports primarily in markets like Indonesia and Africa company had recently outlined that they have a significant focus on Sri Lanka and Bangladesh markets and expects to deliver excellent performance.
Manish Dugar Chief Financian Officer of CEAT had also stressed that the situation in Brazil has begun to improve.
With an interview in CNBC-TV 18, Manish Dugar had further added that that with rubber prices remaining stable over the last 4 to 5 months on a strong demand-supply situation it is difficult to expect any fall in tyre prices. Exports constitute 24% of the tyre-manufacturer's total revenue and growth in exports continues to improve in markets like Indonesia and Italy.
Dugar had also highligted that if rubber prices remain at current levels, he do not see tyre prices drop adding that a further cut in rubber prices may lead to some cut in prices in the commodity sector (truck and bus tyres) whilst he does not expect any cut in prices in the consumer segment
He had pointed out that the profitability of the companies which was announced recently does not evince any significant variance because material prices have been high and the interest costs have not helped either.
Sri Lanka's CEAT unit is owned by India's RPG Enterprises and the company is established as CEAT Kelani Holdings Pvt Ltd as a Ceat India Ltd and Kelani Tyres PLC joint venture. The unit is the largest tyre manufacturer in Sri Lanka and operates in the business of manufacturing and selling automotive and industrial tyres, tubes and flaps.
The organisation dominates Sri Lanka's domestic tyre market with over 55% share in the Truck and the Light Truck Segment. It is also a market leader in radial tyres, Two-wheelers and Three-wheelers and farm tyres. The company has 450 dealers across the Island-one of the largest dealer network. CEAT Kelani has three state of the art manufacturing facilities, which match International standards.
Manish Dugar Chief Financian Officer of CEAT had also stressed that the situation in Brazil has begun to improve.
With an interview in CNBC-TV 18, Manish Dugar had further added that that with rubber prices remaining stable over the last 4 to 5 months on a strong demand-supply situation it is difficult to expect any fall in tyre prices. Exports constitute 24% of the tyre-manufacturer's total revenue and growth in exports continues to improve in markets like Indonesia and Italy.
Dugar had also highligted that if rubber prices remain at current levels, he do not see tyre prices drop adding that a further cut in rubber prices may lead to some cut in prices in the commodity sector (truck and bus tyres) whilst he does not expect any cut in prices in the consumer segment
He had pointed out that the profitability of the companies which was announced recently does not evince any significant variance because material prices have been high and the interest costs have not helped either.
Sri Lanka's CEAT unit is owned by India's RPG Enterprises and the company is established as CEAT Kelani Holdings Pvt Ltd as a Ceat India Ltd and Kelani Tyres PLC joint venture. The unit is the largest tyre manufacturer in Sri Lanka and operates in the business of manufacturing and selling automotive and industrial tyres, tubes and flaps.
The organisation dominates Sri Lanka's domestic tyre market with over 55% share in the Truck and the Light Truck Segment. It is also a market leader in radial tyres, Two-wheelers and Three-wheelers and farm tyres. The company has 450 dealers across the Island-one of the largest dealer network. CEAT Kelani has three state of the art manufacturing facilities, which match International standards.
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