increase font size
Mostly associated with conventional tractor tyres, Indian tyre manufacturer Ceat is reported to have bought the Camso off-highway tyre and track business from Michelin for about US$225 million (NZ$400 million).
The deal gives Ceat global ownership of the Camso brand, which currently enjoys a strong position with its materials handling tyres, tractor and harvester tyres and tracks in both Europe and North America.
As well as widening its product base, the deal is also said to offer Ceat access to a global customer base of more than 40 international OEMs, including all the major brands and distributors.
While there was no mention of the deal at the recent Italian EIMA show in Bologna, Ceat management did talk of ambitious plans to grow its rubber track business to become a global player in the high margin off-highway segment, particularly with tractors and combines in Europe and North America.
Prior to the deal, the Indian manufacturer’s rubber track portfolio was limited to only two tractor and two harvester track offerings. It’s two plants making rubber tracks in Bombay will soon to be bolstered by the two Camso plants in Sri Lanka.
Michelin acquired Camso in 2018. In 2023, the Canadian-based company achieved revenues of approx. US$213 million (NZ$380 million), with the proposed deal subject to regulatory approvals from the relevant authorities.
The arrival of new F8 and F9 designations for its 8000 and 9000 series forage harvesters, signals a swag of upgrades from John Deere, highlighted by topping the 1000hp mark for the first time.
Waikato-Bay of Plenty farmer Hugh Jackson recently secured this year’s FMG Young Farmer of the Year title in Invercargill.
Ashburton-based Carrfields has signed an agreement with Manitou to take over the distribution and retail rights for Manitou Agricultural Equipment covering the lower North Island and the South Island, effective August 1, 2025.
With June ending and following the most upbeat National Fieldays for several years, tractor dealers are reporting a lift in sales.
Samasz distributor FarmShop has introduced the new XDF Series Front Mowers, said to be refined for local conditions and to improve cutting precision and wear resistance.
Penske Australia & New Zealand has appointed Stephen Kelly as the general manager of its Penske NZ operations, effective immediately In this role he will oversee all NZ branch operations, including energy solutions, mining, commercial vehicles, defence, marine, and rail, while continuing to be based at Penske’s Christchurch branch.
According to the latest Federated Farmers-Rabobank Farm Remuneration Report, released today, farm worker pay growth has levelled off after a post-Covid period of rapid growth.
The Climate Change Commission has recommended maintaining the current New Zealand Emissions Trading System (NZ ETS) settings but warns of a potential unit shortfall as early as 2028.
The Conservative Party warns that the upcoming free trade agreement between New Zealand and India may prioritise increased labour mobility while offering limited reassurance for New Zealand workers.
Southland District Council says it is actively managing the impacts of the current fuel supply challenges to ensure essential services across the district continue to operate safely and reliably.
A large crowd turned out for the last of the field days of the three finalists in this years Ahuwhenua Trophy to determine the top Maori horticulture entity in Aotearoa New Zealand
OPINION: When Donald Trump returned to the White House, many people with half a brain could see the results for…
OPINION: Media trust has tanked because of what media's more woke members do and say.
