Karachi June 18 2021: Panther Tyre enter into agreement with Al-Ghazi Tractors for regular supply of tractor tyres, as per company’s disclosure issued at PSX.
This arrangement will have a positive impact on the annual revenue and consequently increase the bottom line of the company
Mian Faisal Iftikhar CEO Panther Tyre
Al-Ghazi is the second largest player in the Tractor market after Millat. During the first 11 months of this fiscal year Al-Ghazi has sold 13,587 units of tractors, which is 37 percent higher when compared to that of last year.
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Mian Tyre and Rubber Company Limited (now Panther Tyres Limited) was incorporated in 1983 as a tyres and tubes manufacturing company. The Company’s manufacturing facility is situated near Sheikhupura. The Company started its commercial operations in 1983 and has today evolved into one of the leading players in the Automobile Parts & Accessories Industry of Pakistan, specifically catering to manufacturing of tyres and tubes market in Pakistan.
Panther Tyres Limited started local manufacturing of tyres for two and three wheelers in 1984 and 1993 respectively and currently has a stronghold in the two and three wheeler tyre market. Over time, the Company has also expanded into other segments of the auto industry including tyres for tractors, light commercial vehicles, trucks, buses and earth movers. The Company has built a strong distribution network with 40,000 indirect (retailers, wholesalers and vulcanizers) and 500 direct (dealers and distributors) business partners. To take the benefit of this huge network, in April 2018, the Company ventured into the trading business of automobile lubricants and spare parts.
The Company started exporting “Made in Pakistan” wheelbarrow tyres and tubes (now discontinued) to European markets as early as in 1996. Since then, the Company continued exploring new markets for its products and gradually established footprint in other parts of the world. Currently, the Company is exporting tyres and tubes to different countries including Turkey, Poland, Macedonia, Egypt, Bangladesh, UAE, Afghanistan, Nigeria, Kenya, Sudan, Yemen and Syria.
