Initially, privatisation is met with extreme employee industrial action for several months.

Once the employee unrest dwindled, the company entered into an agreement with CEAT to set up a joint venture in 1993.

The company moved to meet the total domestic demand for bus and truck tyres which would save LKR11 billion in foreign exchange through import substitution.

[5] The joint venture company exported tyres to Asian, African and South American countries.

CEAT ranked 38th most valuable brand in Sri Lanka, up by ten positions from last year.

[10] In 2022, Kelani Tyres planned to invest LKR3.2 billion in increasing manufacturing capacity.