Ghandhara Tyre

Ghandhara Tyre & Rubber
Company typePublic
PSX: GTYR
IndustryAutomotive
Founded1963 (1963) in Karachi, Pakistan
HeadquartersLandhi, Karachi, Pakistan
Key people
ProductsTyres
Revenue Rs. 15.01 billion (US$54 million)[1] (2023)
Rs. -193.61 million (US$−690,000)[1] (2023)
Rs. -167.36 million (US$−600,000)[1] (2023)
Total assets Rs. 18.27 billion (US$65 million)[1] (2023)
Total equity Rs. 5.75 billion (US$21 million)[1]: 56  (2023)
Owner
Number of employees
1,078[1] (2023)
Websitegtr.com.pk

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 as General Tyre & Rubber Company by General Tire International Corporation (GTIC) to build a plant at a cost of US$4 million.[5] A plant was built in Landhi, Karachi on a 25-acre plot which commenced its production in 1964 with a total capacity of 120,000 tyres per annum.[6][7]

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.[8] In 1985, the company completed a major expansion, increasing its capacity to 600,000 tyres annually.

In 1987, Continental AG acquired the General Tire International Corporation which made it 10% owner in General Tyre Pakistan.

In 2021, it was renamed as GTR.[9] In April 2021, GTR began manufacturing tyres for sports utility vehicle.[10]

References

  1. ^ a b c d e f "GTR Annual Report 2023" (PDF). gtr.com.pk. Retrieved 6 December 2023.
  2. ^ "General Tyre". DAWN.COM. 16 July 2003.
  3. ^ "The General Tyre and Rubber". 4 November 2020.
  4. ^ "Free market or protectionism?: Local industry under threat from smuggled tyre". The Express Tribune. 11 September 2011.
  5. ^ "General Tire International To Build Plant in Pakistan". New York Times. 2 May 1963.
  6. ^ "General Tyre & Rubber of Pakistan". Forbes.
  7. ^ "General Tyre And Rubber Co Of Pakistan Ltd". FT.com. 6 October 2014. Retrieved 6 October 2014.
  8. ^ "GTYR".
  9. ^ "General Tyre to rebrand itself".
  10. ^ "SUV tyre manufacturing begins". 11 April 2021.
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