CEAT celebrates growth in tough 2018-19 with awards gala for top dealers
The importance of unity in times of economic or political adversity was the emotive refrain when top tyre maker CEAT Kelani Holdings honoured the company’s elite dealers at a scintillating awards gala, at Shangri La Hotel in Hambantota, recently.
Themed ‘Together Towards Tomorrow’, the event saw 70 of CEAT’S top 150 dealers who attended receiving awards for their contributions to the company’s revenue in 2018-19, a year of substantial investments in new product development, capacity enhancement and product improvement for the India-sri Lanka joint venture.
CEAT Kelani Managing Director Ravi Dadlani told dealers at the event that the company’s achievement of 3 percent growth in the domestic market in the year concluded could be considered an equitable performance in the context of the challenges faced by the business sector and the country as a whole.
“All of us are going through tough times and it is in times like this that we must work closely together to overcome the challenges,” he said.
He said the company’s courageous decision to go ahead, despite the temporary setbacks in the economy and the depressed outlook in the market, with planned investments of Rs.3 billion to move into new product categories like truck bus radials (TBRS), double production capacity in motorcycle tyres and passenger car radials (PCRS) and to upgrade production techniques and processes, had enabled CEAT Kelani Holdings to increase its market shares across all product categories and outperform the competition.
The full impact of the investments made in 2018-19 would begin to be seen in the current financial year, Dadlani added, calling for the continued support and loyalty of dealers and their families as they work with the CEAT brand ‘together towards tomorrow’.
Top dealers honoured for their contribution to the CEAT brand’s growth in 2018-19 received cash awards, trophies and certificates in recognition of their performances in each of the product categories that CEAT manufactures, as well for overall excellence. They also had an opportunity to win vouchers for gold jewellery through raffle draws conducted during the proceedings.
CEAT’S top 10 dealers overall in 201819 were headed by Dealer of the Year U&H Wheels of Colombo 2, followed by Paramount Tyre Traders – Colombo 14, Supiri Tyre Works – Kandy, Sumith Marketing Co. – Ambalangoda, Nanda Tyre House – Vavuniya, M. J. R. Peiris & Sons – Kandy, Sumidag Tyre Company – Kurunegala, Tyre Link (Pvt.) Ltd, Walasmulla, Abdeen Tyre Service – Akkaraipattu and New Rizla Tyre House – Peliyagoda.
CEAT Kelani’s manufacturing operations in Sri Lanka encompass the radial, commercial, motorcycle, three-wheeler and agricultural vehicle segments. The brand accounts for market shares of 33 percent in the radial segment, 64 percent in truck bias tyre segment, 80 percent in the light truck tyre segment, 50 percent in the three-wheeler tyre segment, 31 percent in the motorcycle tyre segment and 72 percent in the agricultural vehicle tyre category.
The company exports about a third of its production to 16 countries in South Asia, the Middle East, Africa and the Far East.