Sri Lanka-based speciality tyre manufacturer GRI reports that it has acquired the Estonia-based Nortire Group. Headquartered in Estonia, with a branch in Latvia and two branches in Lithuania, Nortire is a speciality tyre distributor. According to GRI, the acquisition will further expand the GRI’s global tyre service network, while attaining a significant foothold in the North European tyre market. The news follows a non-acquisition Middle East strategic partnership with Al-Dobowi in April 2019.
Sri Lanka-based manufacturer GRI Tires has laid the foundation for a new mixing plant. The facility, located some 25 miles from Colombo in the Mirigama Export Processing Zone (MEPZ), will initially give GRI the capacity to increase specialty tyre output by 100 tons a day. A further project phase will double capacity.
A full reengineering of steam generation equipment at the Trelleborg Wheel Systems plant in Sri Lanka will improve the facility’s environmental footprint as well as its production efficiency. Trelleborg is installing a new biomass boiler at the production site in Makola, near Colombo; it reports that work on this “major investment” has already begun, and the new process will be fully operational from June 2019.
China has begun establishing a rubber Free Trade Zone (FTZ) in Sri Lanka. The arrangement will help promote the country’s rubber industry and boost sector earnings. In return, China is asking for long-term access to lands and tax concessions, according to various media reports.
GRI Tires has announced the appointment of a new chairman and a new CEO.
Harris Premaratne was appointed as GRI’s chairman with effect from the 29 March 2018. A veteran banker, Premaratne’s appointment is intended to help take GRI to a “leading position amongst global specialty tyre manufactures”.
The Sri Lanka Association of Manufacturers and Exporters of Rubber products (SLAMERP) has praised the USA’s decision to revoke the countervailing duty imposed upon off-the-road tyres imported from Sri Lanka. Commenting upon the ruling made by the US Court of International Trade on 11 July, SLAMERP notes that it “expresses confidence” in the growth of Sri Lankan exports to the USA.
The solid tyre factory established by STARCO in Sri Lanka has been divested to TVS Group company Sun Tyre & Wheel Systems (Sun-TWS) for an undisclosed sum. The STARCO Lanka facility becomes Sun-TWS’ fifth manufacturing plant and, together with expansion programmes at its existing facilities, will help increase overall capacity by 40 per cent – a measure required in order to meet growing global demand.
With the opening of its new, US$40 million factory in Badalgama, Sri Lanka, Global Rubber Industries Ltd. (GRI) has increased off-road tyre capacity and has added to its export portfolio. The facility was officially inaugurated on 25 January.
The Sri Lanka Association of Manufacturers and Exporters of Rubber Products (SLAMERP) celebrated its 31st Annual General Meeting (AGM) at Cinnamon Grand Colombo on the 16 January 2018. The association was inaugurated in 1985 in order to offer “comprehensive representation, advocacy and to champion to all manufacturers and exporters of rubber products in Sri Lanka”.
A leading tyre manufacturer has placed a first order on Swedish tyre pyrolysis firm Enviro’s recycled carbon black (EnviroCB) for immediate delivery.
“Initially the order volume is small, but is expected to increase significantly over time. The customer is a global manufacturer of tyres and rubber applications and this order relates to industrial tyres”, says Thomas Sörensson, CEO of Enviro.