GTYR partners with SHRC for 7-year technical services agreement

News Image

MG News | August 19, 2024 at 03:06 PM GMT+05:00

0:00

August 19, 2024 (MLN): Ghandhara Tyre and Rubber Company Limited (PSX: GTYR) has announced that it has entered into a Technical Services Agreement with Shandong Huasheng Rubber Co., Ltd. (SHRC), effective from September 01, 2024 for a period of 7 years.

The above agreement, which is subject to obtaining the necessary regulatory approvals, is expected to enhance the company’s tyre manufacturing processes by leveraging SHRC’s advanced technical expertise and proprietary know-how.

SHRC is a leading technology service provider in the tyre industry, based in the People's Republic of China.

This development follows the mutual agreement between GTYR and Continental Global Holding Netherlands B.V. to terminate their Royalty Technical Services Agreement, effective August 31, 2024.

According to a notice issued by the company to PSX today, GTYR renewed the agreement back on March 21, 2018 for a period of 7 years effective from January 1, 2018.

During this time, the company sought alternative technology suppliers in the tyre industry to substitute Continental Global.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 149,421.67
265.90M
0.54%
803.89
ALLSHR 92,216.93
611.10M
0.58%
531.86
KSE30 45,453.21
79.72M
0.45%
205.42
KMI30 213,928.29
111.21M
0.73%
1557.51
KMIALLSHR 61,639.05
266.59M
0.67%
411.16
BKTi 41,546.27
99.02M
0.68%
282.25
OGTi 30,248.73
4.86M
0.76%
229.63
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,215.00 109,815.00
107,790.00
-560.00
-0.51%
BRENT CRUDE 67.55 67.56
67.12
0.07
0.10%
RICHARDS BAY COAL MONTHLY 88.70 88.70
88.70
-0.75
-0.84%
ROTTERDAM COAL MONTHLY 96.15 96.75
96.00
-0.40
-0.41%
USD RBD PALM OLEIN 1,106.50 1,106.50
1,106.50
0.00
0.00%
CRUDE OIL - WTI 64.12 64.14
63.66
0.11
0.17%
SUGAR #11 WORLD 16.34 16.52
16.33
-0.14
-0.85%

Chart of the Day


Latest News
September 01, 2025 at 11:36 AM GMT+05:00

PSX invites public feedback on corporate briefing, fund rules


September 01, 2025 at 11:32 AM GMT+05:00

Pakistan, China agree to enhance financial cooperation


September 01, 2025 at 11:20 AM GMT+05:00

Macpac Films profit falls 67%


September 01, 2025 at 11:05 AM GMT+05:00

At-Tahur licenses “PREMA” to Minha Edible Oils


September 01, 2025 at 11:00 AM GMT+05:00

SECP, ADB collaborate on We-Finance Code awareness



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg