ERJ staff report (TP)
Pakistan – The Chairman of General Tyre and Rubber Company (GT), Lieutenant General Ali Kuli Khan Khattak (Retd), said the company will set up a manufacturing plant in northern Pakistan as it looks to expand its operations.
The announcement was made by Khattak during a gathering to commemorate 50 years of GT. The company was founded in 1963 by General Tire USA.
"General Tyre and Rubber Company alone contributed around Rs 16.5bn (€112.3m) to the national exchequer in three decades and emerged as the leading and most trusted tyre brand of the country," said Khattak.
GT is strong on social development, as all companies in the group donate 2.5 percent of their profits to Wakf-e-Kuli Khan, a non-profit organisation which provides free education to the needy.
Chief Executive, Shahid Hussain, said: "Our success does not hinge on doing things in isolation. We have a very good understanding with our equity holder Continental AG and their Director on our Board Dr Willi Flamm.
“Similarly, we have a very good understanding with our other equity partners including Pak Kuwait Investment Company and National Investment Trust," he added.
GT invested Rs 500m (€3.4m) in motorcycle tire production and plant improvements earlier this year. The company produces tires for cars, trucks, buses, tractors, rickshaws and motorcycles. Some 50 percent of its tires are sold to the original equipment manufacturers (OEMs) - carmakers - in Pakistan. GT also exports to Afghanistan and Syria and is exploring new export markets.