CEAT celebrates market leadership with glitzy awards gala
Friday, 11 April 2014 00:00
CEAT’s achievement of overall leadership of Sri Lanka’s tyre market in the Bias as well as Radial categories was celebrated in characteristic style when the top tyre brand hosted 125 of its best dealers in Sri Lanka and their families at a spectacular awards gala on Saturday 5 April.
Significant sales contributions by dealers in all product segments that contributed to CEAT Kelani Holdings growing into a Rs. 11 billion company in 2013-14 were rewarded with trophies and overseas holidays at an overnight event themed ‘Together, towards tomorrow’ at the Blue Water Hotel.
Delivering the welcome address at this colourful event, CEAT Kelani Holdings Chairman Chanaka de Silva said CEAT’s growth into the largest manufacturer and marketer of tyres in Sri Lanka in both bias and radial categories is evidence that “finally, the joint venture has arrived,” but cautioned that “this is just the beginning.”
Today, CEAT Kelani exports Rs. 4 billion in tyres manufactured in Sri Lanka, and has constantly expanded capacity and upgraded quality, earning extensive external recognition in the form of national awards, de Silva said.
CEAT Kelani Managing Director/CEO Raman Rajagopalan said CEAT had more than doubled its sales in the past four years, from Rs. 4.8 billion in 2009-10 to Rs. 11 billion in 2013-14, and increased its market shares to 56% in the Truck/Light Truck segment, to 43% in the three-wheel segment, 31% in the radial segment and 20% in the two-wheel segment.
“We will continue to grow, with many new products in the pipeline,” he said, disclosing that the company would be aggressively focusing on the Radial, three-wheel and the two-wheel segments in the year ahead, increasing its product portfolio from eight to 15 sizes in the motorcycle category and by a further seven sizes in the radial category in the next year.
Rajagopalan also listed the many corporate social responsibility initiatives supported by the company, though which it shares its success with the community. These include a country-wide road safety awareness campaign which has to date benefitted 16,000 students from 85 schools, and a personal grooming program titled ‘Saksham’ for students of 14 universities and higher education institutions.
CEAT’s Top 10 dealers honoured at the event were Nanda Tyre House – Vavuniya, U&H Wheel Services – Colombo 2, Sumidad Tyre Co. – Kurunegala, Sumith Marketing – Ambalangoda, Paramount Tyre Traders – Colombo 14, Suravi International – Colombo 14, Popular Motor Stores – Jaffna, M. J. R. Peiris & Sons – Kandy, The Tyre Team – Nugegoda and Colombo Tyre Traders – Gampola.
CEAT Kelani Holdings currently manufactures half of Sri Lanka’s tyre requirements, and has announced that a new radial plant set up at its Kelaniya complex will increase radial tyre production by 70%. A global tyre brand present in 110 countries and now headquartered in India, CEAT is an acronym that stands for Cavi Electrici Affini Torino, or Electrical Cables & Allied Products of Turin, with origins that date back to 1924 in Italy.
A National Business Excellence Award winner in 2010, 2011, and 2012 and a National Quality Award winner in the ‘Manufacturing – Large’ category in 2013, CEAT – Kelani Holdings is a successful Indo-Sri Lanka joint venture between the RPG Group of India and Kelani Tyre – Sri Lanka. The company operates three manufacturing units in Sri Lanka and employs a workforce of 1,000 people.