India, April 23 -- CEAT Limited has incorporated a step-down subsidiary in Germany, marking an extension of its overseas corporate structure.

The BSE-listed tyre maker said it had received a certificate of registration on 20th April for the incorporation of CEAT GmbH, a wholly owned step-down subsidiary set up with a capital of 25,000.

The subsidiary is held entirely through a wholly owned arm of CEAT Limited, giving the parent company indirect 100 percent ownership.

The company stated that CEAT GmbH would operate in the automotive tyres and related products segment, including tubes, tracks, flaps and ancillary activities.

As the entity has been newly incorporated, no turnover figures are available.

CEAT said the subsidiary qualifies...