Indian tyre maker CEAT buys Michelin's Camso off-highway tyre business for $225 million.

Indian tyre maker CEAT has agreed to buy Michelin's Camso off-highway tyre and tracks business for $225 million. The deal includes two Sri Lankan manufacturing facilities and a brand generating $213 million in revenue. CEAT aims to strengthen its position in high-margin off-highway tyres, providing access to over 40 international OEMs. The acquisition requires regulatory approval.