CEAT has inked a joint venture agreement (JVA) with A K Khan & Company, a leading business house of Bangladesh, for setting up a bias automotive tyre manufacturing facility in Bangladesh. The company plans an investment of $67 million for a capacity of 110 metric tonnes per day in phases. Under the JVA, CEAT will hold shareholding of 70% in the JV Company and balance 30% will be held by A K Khan & Company, subject to the necessary statutory approvals.
The company will provide the technology and operational support to the JV Company. For this purpose, the company has also executed a Technology, Trademark and Name Licence Agreement with CEAT Bangladesh, the company proposed to be converted into the JV Company.
CEAT is among the best tyre manufacturers in India. Besides tyres, the company also manufactures and markets tubes and flaps. It manufactures a wide range of tyres for two-wheelers, three-wheelers, four-wheelers, tractors and tippers and trucks.
