CEAT Limited has today signed a Joint Venture Agreement with A K Khan & Company Limited, a leading business house of Bangladesh, for setting up a bias automotive tyre manufacturingfacility in Bangladesh.
The Company plans an investment of USD 67 million for acapacity of 110 metric tonnes per day in phases. Under the Joint Venture Agreement,while CEAT Limited will hold shareholding of 70% in the JV Company, balance 30% will be held by A K Khan & Company Limited, subject to the necessary statutory approvals.
The Company will provide the technology and operational support to the JVCompany. For this purpose, the CEAT has also executed today a Technology, Trademark and Name Licence Agreement with CEAT Bangladesh Limited, the company proposed to be converted into the JV Company.
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