In Pakistan, a new tire JV may appear

Pakistan's Ghandhara Tire and Rubber Co., Ltd. (formerly General Tire and Rubber Company of Pakistan Ltd.) has signed a non-binding memorandum of understanding with China's Shandong Huasheng Rubber Co., Ltd.

The memorandum was signed with the aim of exploring the possibility of establishing a new joint venture in Pakistan, which will be engaged in the production and sale of radial tires for passenger cars and trucks/buses, with a particular focus, as reported, on supplying products to export markets.

GTR adds that the establishment of the joint venture will depend on the technical and economic feasibility studies, as well as obtaining the necessary approvals and conditions of the final agreements.

GTR was registered in Karachi on March 7, 1963, and is engaged in the production and sale of tires and tubes for vehicles and motorcycles. In turn, Huasheng was founded in 1983 in Dongying (Shandong, China) and is now an international company with assets worth over 5 billion yuan (690 million dollars).

GTR was founded by the American company General Tire, which in 1977 sold 90% of the company's shares to the local Bibojee Services Ltd., which is now the owner of the tire manufacturer. In 1987, General Tire became owned by Continental, which owned shares of the Pakistani company until 2017. In the same year, GTR and Continental signed a technological partnership agreement, which was terminated in 2024, after which it was announced that Huasheng would become the new partner.