Tyrepress China has learned that the second phase of the Pakistan tyre factory Service Long March (SLM) will be completed and put into production before the end of 2024. The factory is a joint venture between Chaoyang Long March and Pakistan-based Service Industries Limited. Information shows that the total investment in the SLM factory is US$250 million, with Chaoyang Long March accounting for 44 per cent.
The first phase of the China-Pakistan joint all-steel radial tyre plant, Service Long March (SLM), has been officially put into production, with an annual output of 740,000 sets of all-steel radial tyres.
Techking Tires is opening its first Techking Service Center (TSC) outside its home market of China this month. This inaugural international TSC is located in Pakistan, one of the largest markets for Techking truck tyres. Techking considers the launch of the TSC in Pakistan a “key breakthrough and milestone” in its global deployment, and the company intends to follow this by establishing some ten TSCs around the world in 2021.
According to authoritative Pakistani newspaper Dawn, Chinese manufacturers now hold an 85 per cent share of the country’s car tyre market, up from 40 per cent in 2018. It also reports that Chinese tyre makers have increased their share of the light truck tyre segment from 40 per cent to 65-70 per cent during the same timeframe, while their share of the truck/bus tyre market has risen from 40 per cent to more than 75 per cent.
Vacu-Lug Traction Tyres Ltd has pledged its support to The Midland Doctors Charity, with a donation to the organisation, which was set up to help the community of Pakistan following the devastating earthquake of 2005. Midland Doctors is led by NHS doctors, senior consultants and business leaders, who provide medical care.
Under a technology transfer agreement signed with Pakistan-based battery manufacturer Century Engineering Industries, South Korean tyre maker Kumho Tire will provide technological and manufacturing know-how as Century establishes its own tyre production plant. The agreement signed in Seoul today covers the ten-year period to September 2028; Century Engineering will initially pay Kumho Tire US$5 million and 2.5 per cent of turnover for the assistance provided, with the contract scheduled for review after five years.
General Tyre and Rubber Company of Pakistan Limited reports net sales for the financial year ending 30 June 2018 increased 22.2 per cent year-on-year to PKR 11,785.5 million (£78.7 million). Profit from operations amounted to PKR 1,190.1 million (£7.9 million), down 8.7 per cent on the previous year’s result. Total comprehensive income for the year was PKR 671.4 million (£4.5 million), 20.7 per cent lower than in the 2016-17 financial year. Earnings per share amounted to PKR 11.97 (2016-17: PKR 14.75).
Continental intends to divest its shareholding in General Tyre and Rubber Company of Pakistan Ltd. The company owns a 9.78 per cent share in Pakistan’s largest tyre maker through Continental Global Holding Netherlands B.V., and according a notification sent by General Tyre and Rubber to the Pakistan Stock Exchange, Continental Global Holding Netherlands intends to sell its entire shareholding “as soon as practically and economically feasible.”
Ukraine-based tyre maker PJSC Rosava reports that half the tyres produced at its Bila Tserkva facility are now exported to other markets, and says exports to certain key markets have markedly increased during the past year. Exports to the Middle East have risen 400 per cent since January 2015, while tyre shipments to Europe increased 100 per cent during that period. Deliveries to OEM customers have grown 44 per cent since January, the tyre maker added.
Belshina JSC says it expects sales of its tyres in Pakistan this year will be double the level achieved in 2014. The Belarus-based tyre maker has been exporting to Pakistan since 2001 and in past years shipped 11,000 to 12,000 tyres a year to the country. Most of the tyres Belshina currently sells in Pakistan are agricultural tyres, however the company sees potential for greater volumes there, including sales of truck tyres.
The Pakistani tyre market is subject to widespread under-invoicing, which continues to lead to smuggling and illegal cross border trade. It’s nothing new, but local news sources are reporting that it is now happening at a “colossal” scale due to the Afghanistan-Pakistan Transit Trade Agreement (APTTA), citing data produced by the Pakistan Business Council (PBC).
Pakistan-based publication The International News reported on 29 October that The General Tyre and Rubber Company of Pakistan Limited, or Gentipak, will establish a new manufacturing facility in the country’s north. Details of this plan were given by company chairman Lt Gen (Retired) Ali Kuli Khan Khattak at a gathering to commemorate Gentipak’s half-century in Pakistan.
Kenda has launched a new passenger car tyre designed with a strong focus on decreasing fuel consumption. Hosted by Varga Trading Co., Kenda director James Lo unveiled the newly developed eco tyres in a presentation that also showed the new tyre’s low noise pattern design, addressing another EU tyre label category. Other speakers included Dr Hongder Chang, Kenda’s general manager, who outlined the company’s goal of generating sales of US$2 billion, and dealers Mohammad Shahid, from Pakistan and Nassib Daher from Lebanon. The KR 30 is manufactured in Taiwan.