GTR
TypePublic
PSX: GTYR
IndustryAutomotive
FoundedKarachi, Pakistan 1963 (1963)
HeadquartersLandhi, Karachi
Key people
ProductsTyres
RevenueDecrease Rs. 15.01 billion (US$52 million)[1] (2023)
Decrease Rs. -193.61 million (US$−670,000)[1] (2023)
Decrease Rs. -167.36 million (US$−580,000)[1] (2023)
Total assetsIncrease Rs. 18.27 billion (US$63 million)[1] (2023)
Total equityIncrease Rs. 5.75 billion (US$20 million)[1]: 56  (2023)
Owner
Number of employees
1,078[1] (2023)
Websitegtr.com.pk

GTR, formerly known as The General Tyre and Rubber Company of Pakistan Limited (جنرل ٹائر اینڈ ربڑ کمپنی پاکستان لمیٹڈ) is a Pakistani tyre manufacturing company based in Karachi.[2][3][4]

History

The company was established by General Tire International Corporation (GTIC) in 1963 at Landhi, Karachi on a 25-acre plot and commenced its production in 1964 with a total capacity of only 120,000 tyres per annum.

GTIC sold 90% of their shares to the present owners M/s Bibojee Services Ltd. in 1977 and retained 10% of the ownership. In 1985, the Company completed a major expansion, which took the capacity to 600,000 tyres annually.

Continental AG, Germany’s tyre manufacturer purchased GTIC in 1987 and thus became 10% owners in GTR. Continental provides technical assistance to General Tyres and Rubber.

The brand name “GENERAL” also belongs to Continental AG. Currently, the capacity of the company stands at 2.3 million tyres approximately. GTR has been and still is one of the largest tyre manufacturer Pakistan.

Being a public listed Company; the current main sponsors of the Company beside Bibojee Services are Pak Kuwait Investment Company, NIT and Continental AG of Germany. The remaining shares are held by the general public. [5]

References

  1. 1 2 3 4 5 6 "GTR Annual Report 2023" (PDF). gtr.com.pk. Retrieved 6 December 2023.
  2. ↑ "General Tyre to rebrand itself".
  3. ↑ "SUV tyre manufacturing begins". 11 April 2021.
  4. ↑ "The General Tyre and Rubber". 4 November 2020.
  5. ↑ "General Tyre And Rubber Co Of Pakistan Ltd". FT.com. October 6, 2014. Retrieved October 6, 2014.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.