Service Industries Limited (SIL) announced on Friday that its wholly owned subsidiary Service Tyres (Private) Limited (STPL) intended to incorporate a wholly owned subsidiary under the name Service Tyres International (Private) Limited for expansion of tyre business. The company announced via a notice to the Pakistan Stock Exchange today. The notice stated that additional information regarding the proposed subsidiary will be shared with the bourse in due course. Incorporated in 2020 as a joint venture between Service Industries Limited, China’s Chaoyang Long March Tyre Company Limited, and Myco Corporation Pakistan, SLM commenced commercial operations in March 2022. The company operates a manufacturing facility at SITE Nooriabad, Sindh, spread over approximately 50 acres of SEZ land. Service Long March Tyres has emerged as a key player in Pakistan’s automotive manufacturing landscape since commencing operations, focusing primarily on the truck and bus radial tyre market, which plays a critical role in supporting the country’s transportation, logistics, trade and industrial sectors.
Service Industries announces new tyre subsidiary for business expansion
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