Tuesday, February 24, 2009

BWI: Ceat Announces a Fresh Round of Price Cuts

Press release from Business Wire India
Source: Ceat Ltd
Tuesday, February 24, 2009 07:15 PM IST (01:45 PM GMT)
Editors: General: Consumer interest, Economy; Business: Automotives, Commodities & materials; Automotive
Release no: 19329
Ceat Announces a Fresh Round of Price Cuts
Passes on full Benefits of Excise Duty cut by Government to Consumers

Mumbai, Maharashtra, India, Tuesday, February 24, 2009 -- (Business Wire India) -- Ceat Ltd has announced another round of reduction in the prices of its truck tyres, thus passing on to the customers the entire benefit of the 2 per cent excise duty reduction announced by the government.

This is the third round of price cuts announced by Ceat within a span of 3 months, the first tyre manufacturer to do so. The new prices will be effective all India with immediate affect.

Speaking about this initiative Arnab Banerjee, VP - Marketing & sales Ceat Ltd said, "Ceat's decision to further reduce the cost of its tyres is part of the company's belief of giving optimum benefit to its consumers.


CEAT Tyres, the flagship company of RPG Enterprises, with an annual turnover of Rs. 2,600 crore, was established in 1958. Today, CEAT is one of India's leading tyre manufacturers and has a strong presence in both domestic & international markets. The company manufactures over 10 million tyres every year and enjoys a major market share in the light truck & truck tyre market. CEAT tyres, tubes and flaps are renowned for their superior quality and durability. CEAT offers the widest range of tyres to all user segments and manufacture world-class radials for all Indian vehicles including: Heavy-duty Trucks and Buses, Light Commercial Vehicles, Earthmovers, Forklifts, Tractors, Trailers, Cars, Motorcycles and Scooters, Auto-rickshaws.

CEAT has three manufacturing plants - Mumbai (Bhandup), Nasik & Sri Lanka. The company currently exports tyres to nearly 110 countries across USA, Europe, Africa & other parts of Asia. CEAT has a robust network consisting of over 3,500 dealers, 33 regional offices and more that 100 C & F agents. CEAT also has a branded franchisee network 'CEAT Shoppe'. These Shoppes are retail tyre outlets, providing comprehensive expertise in tyres and tyre services -- all under one roof. The company has a dedicated Customer Service department, comprising Customer Service Managers in all four divisional offices, assisted by 50 Service Engineers. The board of the company is headed by Mr. R P Goenka, Chairman Emeritus and Mr. Harsh Goenka, Chairman, RPG Enterprises. Mr. Paras K Chowdhary is the Managing Director of CEAT Ltd and Mr. Arnab Banerjee heads the Sales & Marketing division.

Kavita K Bhaskaran, Sampark Public Relations, 99873 55009, kavita.bhaskaran@sampark.com
Sunita Libera, Sampark Public Relations, +91 9821992518, sunita.libera@sampark.com


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