GTR (company) explained

Ghandhara Tyre & Rubber
Type:Public
Foundation: in Karachi, Pakistan
Location:Landhi, Karachi, Pakistan
Num Employees Year:2023
Assets Year:2023
Equity Year:2023
Num Employees:1,078
Industry:Automotive
Products:Tyres
Revenue: [1]
Revenue Year:2023
Income Year:2023
Net Income Year:2023

Ghandhara Tyre & Rubber Company Limited (GTR), formerly known as The General Tyre and Rubber Company of Pakistan Limited is a Pakistani tyre manufacturing company based in Karachi, Sindh.[2] [3] It has a production capacity of two million tyres per annum with manufacturing plant located in Landhi.[4]

History

Ghandhara Tyre & Rubber Company Limited was founded in 1963 by General Tire International Corporation (GTIC) at Landhi, Karachi on a 25-acre plot and commenced its production in 1964 with a total capacity of 120,000 tyres per annum.[5] [6]

GTIC sold 90 percent of its shares to the present owners, M/s Bibojee Services Ltd., in 1977 and retained 10 percent ownership. In 1982, the company was listed on the Karachi Stock Exchange.[7] In 1985, the company completed a major expansion, increasing it's capacity to 600,000 tyres annually.

Continental AG, Germany's tyre manufacturer purchased GTIC in 1987 and thus became 10 percent owners in GTR. Continental provides technical assistance to General Tyres and Rubber. The brand name "GENERAL" is part of Continental AG.

In 2021, it was renamed as GTR.[8] In April 2021, GTR began manufacturing tyres for sports utility vehicle.[9]

Notes and References

  1. Web site: GTR Annual Report 2023. gtr.com.pk. 6 December 2023.
  2. Web site: General Tyre. July 16, 2003. DAWN.COM.
  3. Web site: The General Tyre and Rubber. 4 November 2020.
  4. Web site: Free market or protectionism?: Local industry under threat from smuggled tyre. September 11, 2011. The Express Tribune.
  5. Web site: General Tyre & Rubber of Pakistan | Company Overview & News. Forbes.
  6. News: General Tyre And Rubber Co Of Pakistan Ltd. October 6, 2014. FT.com. October 6, 2014.
  7. Web site: Karachi Stocks | Live GTYR. khistocks.com.
  8. Web site: General Tyre to rebrand itself.
  9. Web site: SUV tyre manufacturing begins. 11 April 2021.