ECONOMYNEXT – France-based Michelin said it was selling two plants in Sri Lanka that made bias tyres and tracks for compact construction equipment to India’s CEAT group.
In addition to the production facilities, the sale will also include the Camso brand, at the end of a three-year licensing period.
“The Group also intends to continue its other manufacturing activities in Sri Lanka,” a statement said.
“The country remains important for Michelin, where the company plans to continue modernizing its production facilities alongside improving performance – as everywhere in the Group.”
Separately Michelin said it will also stop production of bias tyres at its factory in Poland as part of a plan to exit from its activities related to Compact Line bias tires and Construction tracks.
It will continue to produce radial tires, solid tires and assemblies.
““Michelin firmly believes that CEAT is the right fit to carry on our bias tires and tracks for compact Construction equipment business,” Nour Bouhassoun, Senior Vice President, Beyond Road Business Line at Michelin, said in a statement.
“Both our companies are fully committed to ensuring a smooth transition for our employees and business continuity for our customers and suppliers.”
Michelin acquired the plants in Sri Lanka from then-Canada based Camso group. The solid tyre and track group was originally set up as Loadstar by a Belgian investor who sold the business to Camso.
“The Camso brand is an excellent fit with the growth strategy of CEAT’s Off-Highway tire business, thereby improving our margin profile,” Arnab Banerjee, Managing Director & CEO of CEAT, said in the statement.
“Access to the most premium customers, a high-quality brand and a qualified workforce is what excites us the most about this acquisition.
“The track segment is a technologically superior segment with a limited number of global players.
“We also found high synergies between the two brands, CEAT and Camso, and are confident that both will benefit tremendously from their complimentary capabilities and positioning.”
There are 15 plants and 5,000 employees at plants in Sri Lanka, according to the Camso website. (Colombo/Nov06/2024)
Continue Reading
A very good decision.
Your article states “Sri Lanka’s tea industry in particular as been lobbying to allow glyphosate use as it is one of the internationally accepted weed killers and alternatives are not permitted under food regulation in some of the export destinations.”. It is patently untrue.
So sad to note that while the rest of the world moves away from obsolete and questionable agrochemicals, Sri Lanka is still mired in archaic beliefs promoted by rather ignorant academic advisors.
Here are some relevant global truths underscored by scientific opinion, global policy formulators.
Countries Which Have banned Glyphosate
Argentina, Australia, Austria Bahrain, Barbados, Belgium, Bermuda, Brazil, Canada, Colombia, Costa Rica, Czech Republic, Denmark,, El Salvador, Fiji, France, Germany, Greece, India,, Italy, Kuwait, Luxembourg, Malawi, Malta, Mexico, Netherlands, New Zealand, Oman, Portugal, Qatar, St. Vincent & the Grenadines Saudi Arabia, Scotland, Slovenia, Spain, Sri Lanka (up to 2018 and reintroduced ban in 2021 but resumed application in 2022 due to political pressures), Sweden, Switzerland, , Thailand, United Arab Emirates, United Kingdom,
United States (28 of the 50 States have already banned Glyphosate to varying extents.
Viet Nam (https://sustainablepulse.com/2019/03/25/vietnam-bans-import-of-glyphosate-herbicides-after-us-cancer-trial-verdict/#.XJkUM1NKiT9)
German cabinet approves legislation to ban glyphosate from 2024
https://www.reuters.com/article/us-germany-farming-lawmaking-idUSKBN2AA1GF
Regional Collectives which banned Glyphosate
Middle East
Oman’s Ministry of Agriculture along with six other Middle Eastern countries, including Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, and Bahrain, have banned the use of glyphosate herbicides since 2016, after reviewing IARC’s classification of glyphosate as a ‘probable human carcinogen’.
European Union
Glyphosate is currently approved in the EU until 15 December 2022. Therefore, glyphosate can be used as an active substance in Plant Protection Products (PPPs), until that date, subject to each PPP being authorised by national authorities following an evaluation of its safety.
Monsanto Banned from European Parliament as it unduly influenced studies into the safety of glyphosate
MEPs withdraw parliamentary access after the firm shunned a hearing into allegations that it unduly influenced studies into the safety of glyphosate used in its RoundUp weedkiller. “Monsanto lobbyists have been banned from entering the European parliament after the multinational refused to attend a parliamentary hearing into allegations of regulatory interference. It is the first time MEPs have used new rules to withdraw parliamentary access for firms that ignore a summons to attend parliamentary inquiries or hearings…”https://www.theguardian.com/environment/2017/sep/28/monsanto-banned-from-european-parliament
https://www.baumhedlundlaw.com/blog/2018/august/monsanto-to-pay-289-2-million-in-landmark-roundu/
https://www.baumhedlundlaw.com/toxic-tort-law/monsanto-roundup-lawsuit/where-is-glyphosate-banned-/
“The EPA has got it wrong on glyphosate. We have study after study after study showing that it in fact, does cause a specific type of cancer called lymphoma. And we see it happening in thousands and thousands of people across the country. Currently, this Administration and this EPA will not take action against Monsanto. We’ve seen the internal documents, the text messages, the emails between senior EPA officials and Monsanto employees. And the simple fact is they know that this EPA will not take adverse action against them. It is a travesty that this truth about it causing cancer and this awareness that we are trying to raise has to be done in the context of litigation. We only exist, these lawsuits only exist, because the EPA has failed the American public for 45 years and Monsanto is allowed to get away with reckless conduct with, essentially, impunity…this agency essentially does not work for the American public but works for industry. The fact that the White House is telling Monsanto, ‘We have your back.’ I mean this just tells us that we are going to have to keep fighting this fight and that we are not going to get any support or help from the public agencies that, ironically, are supposed to be protecting the public health.” – Brent Wisner, Roundup Cancer Attorney
“…Monsanto lobbyists have been banned from entering the European parliament after the multinational refused to attend a parliamentary hearing into allegations of regulatory interference.
It is the first time MEPs have used new rules to withdraw parliamentary access for firms that ignore a summons to attend parliamentary inquiries or hearings.
Monsanto spends between €300,000-€400,000 (£260,000 – £350,000) annually on lobbying in Brussels, according to its self-declaration form in the EU transparency register…”
Why are they saying “NO GLYPHOSATE” after all these years of “yes to Glyphosate”!!!
When I used Round Up on my field experimental sites some 30 years ago, Round UP was the trademark for Glyphosate. Recent Cutting Edge scientific surveys and opinion on safety of Glyphosate have drastically changed !
Will Sri Lanka follow the advice and practice ?