CEAT to increase stake in Srilankan JV

CEAT, a leading tyre manufacturer of India will be increasing its 27% stake in its Srilanka based manufacturing joint venture, Ceat Kelani International Tyres. Manufacturing capacity of Ceat Kelani will increase to 60 tonnes per day from existing 45 tonnes per day. On marketing front, the company plans to increase the number of CEAT hubs (exclusive outlets) to 250 from 205 for addressing the needs of its trucks and buses segments.