Tyre maker Ceat Ltd has acquired global rights of its 'Ceat' brand from Italy-based Pirelli, for 9 million euros, thus getting rights to export tyres under the brand on its own across the globe.
Ceat now owns the 'Ceat' brand in nine south Asian countries, including India, Pakistan and Sri Lanka. Pirelli owns the 'Ceat' trademark in the rest of the world.
The acquisition will enable Ceat to export radial and cross-ply tyres worldwide under the Ceat brand. The firm currently exports its tyres to Europe and South America under the 'Altura' brand.
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