KELANIYA, Sri Lanka (June 12, 2014) — CEAT Kelani Holdings has commissioned a radial car and truck tire plant in Kelaniya, according to Sri Lanka’s Ministry of Economic Development, valued at $7 million.
The new plant, operating as Asia Tyres (Pvt.) Ltd., opens with a rated capacity of 13 million units annually, according to the ministry. CEAT Kelani Holdings is a joint venture between India’s RPG Group and Sri Lanka’s Kelani Tyre.
Sri Lankan Economic Development Minister Basil Rajapaksa was on hand to cut the ribbon at a June 10 dedication ceremony. Also attending were Chanaka De Silva and N.C. Venugopal, chairperson and managing director/CEO, respectively, of CEAT Kelani Holdings, along with a delegation of Sri Lankan government officials.
The new plant was built on land at CEAT Kelani’s manufacturing complex in Kelaniya, the ministry said.
CEAT Kelani offers both bias-ply and radial tires for cars, vans, light and medium trucks, two- and three-wheelers, and agriculture equipment, along with tubes and flaps. It also operates a plant in Kalutara.
Photos and a video of the plant and ribbon-cutting are at the ministry’s website.
How have tire prices been in the last few months?
|They've gone up 1-5%||
|They've increased 6-10%||
|They've stayed flat||
|They've gone down between 1 and 5%||
|They've gone down 6-10%||
|They've dropped more than 10%||