Goodway to Boost OTR Tyre Exports
Goodway Integrated Industries Bhd is aimining to increase exports of its off-the-road (OTR) tyres, following an agreement to enter into a joint business venture with World Rubber Trading, a Greece-based tyre distributor.
According reports in Malaysia’ Business Times, Goodway's 75 per cent owned subsidiary Bigwheel OTR Sdn Bhd and World Rubber Trading signed an agreement on 13 September, which will see the Greek company supply OTR tyre casings to Bigwheel for the production of retreaded tyres at its manufacturing plant in Nilai, Negeri Sembilan.
“The joint venture will only entail obligation from both parties, no capital investment will be involved,” said Tai Boon Wee, chief executive officer of Goodway, adding: “The venture has already started off with an initial batch of 300 tyre casings from World Rubber Trading and with another 300 casings by end of year.”
The news follows another memorandum of understanding between Goodway Indag Rubber Ltd. In this joint venture, the two companies are “considering joint opportunities to…strengthen both parties’ market position in the rubber compounding and retreading industry.”