Key Takeaways
- Ghandhara Tyre & Rubber Company Limited has obtained US Department of Transportation certification.
- The certification enables the company to export tyres to the United States.
- This move aligns with GTYR’s strategy to expand its international market presence.
Ghandhara Tyre & Rubber Company Limited (GTYR) has successfully obtained US Department of Transportation (DOT) certification, paving the way for exporting tyres to the United States. The company announced this development in a notice to the Pakistan Stock Exchange (PSX) on Wednesday.
According to the notice, GTYR's manufactured tyres comply with the applicable US Federal Motor Vehicle Safety Standards, as verified by the DOT certification. This certification is crucial as it ensures that drivers and vehicles meet national safety standards set by the Federal Motor Carrier Safety Administration (FMCSA).
GTYR, formerly known as The General Tyre & Rubber Company, was established in 1963 under the Companies Act, 1913. It later became a public limited company. The company’s primary business involves manufacturing and trading tyres and tubes for automobiles and motorcycles.
In recent years, GTYR has diversified its product portfolio by introducing new tyre sizes suitable for SUV/crossover segments and increasing export sales. To further strengthen its position in the global market, the company partnered with China's Shandong Huasheng Rubber Co., Ltd. (SHRC) to explore a joint venture focused on exporting truck bus radial and passenger car radial tyres.
The DOT certification is seen as a significant milestone for GTYR, aligning with the company’s strategic emphasis on expanding its export portfolio and exploring new international markets. In a statement, GTYR expressed its commitment to capitalising on emerging opportunities and delivering sustainable value to its stakeholders.
GTYR remains optimistic about the future prospects of its business in light of this certification. The company stated that it is committed to continuing its efforts to enhance its global presence and contribute positively to Pakistan’s economy through increased exports.
