How it started
History
The company was founded as Cavi Elettrici e Affini Torino (Electrical Cables and Allied Products of Turin) by Virginio Bruni Tedeschi in 1924, in Turin, Italy. On 10 March 1958, the company was incorporated as CEAT Tyres of India, in Mumbai. Initially, the company collaborated with the Tata Group. In 1972, the company set up a research and development unit at Bhandup in Maharashtra. In 1981, Deccan Fibre Glass Limited was merged with the company.
In 1980, Alberto, son of Virginio, sold the Cavi Elettrici e Affini Torino to investment firm SOFIT, which went on to cut jobs. Oweing to it, in 1981, the company failed in Italy and Pirelli purchased the right to the CEAT name, which it sold to RPG Group in 1983.
In 1982, RPG Group acquired the company, and in 1990, the company was renamed as CEAT. In 1993, the company collaborated with Yokohama Rubber Company, to manufacture radial tyres at their Nashik unit. In 1999, CEAT formed a joint-venture, named as CEAT Kelani, with Asia MotorWorks (AMW) and Kelani Tyres, to manufacture and market CEAT tyres in Sri Lanka. in 2006, CEAT Kelani commissioned their first Sri Lanka–based radial-tyre manufacturing unit in Kalutara. In 2009, AMW exited the joint-venture. In 2020, a new radial tyre factory was set up near Chennai with the initial investment of INR 14000 crore. The factory produces and supplies passenger car radial and two-wheeler radial tyres. The company exports across Asia, America and Europe.
From Wikipedia’s article on CEAT, shared under CC BY-SA 4.0.2