Friday Jan 10, 2025
Friday Jan 10, 2025
Friday, 10 January 2025 00:30 - - {{hitsCtrl.values.hits}}
Ferentino Tyres Chief Operating Officer Ushantha Jayalath (fourth from right) gestures during the media briefing on company’s plans on Wednesday. Others from left are Regional Sales Manager Danushka Sanjeewa, Institutional Sales Manager Akalanka Wijesinghe, Product Manager Sujith Jayasundara, Chief Financial Officer Dilruk Suranga, Sales and Marketing General Manager Dhanushka Maduranga, Product Manager Chanaka Thilakarathne and Regional Sales Manager (PCR) Lahiru Hewage – Pic by Upul Abayasekara
Ferentino Tyres on Wednesday announced plans to triple exports to $ 300 million this year and an expanded range with big discounts to local buyers of a world class product to mark its third anniversary. The mega push to up its exports from $ 100 million at present is powered by the fact that Ferentino has now become the only Sri Lankan brand with four stringent global certifications – US Department of Transportation’s Federal Motor Carrier Safety Administration (FMSCA), Brazil’s National Institute of Metrology, Quality and Technology (INMETRO), Economic Commission for Europe of the UN’s ECE4 Certification and Gulf Cooperation Council Standardization Organization (GSO). Ferentino Tyres Chief Financial Officer Dilruk Suranga said exports are made to 38 countries with the US and Europe being major markets. In the US, Ferentino operates out of five States including California, Texas, Atlanta and Plymouth. Ferentino is also an Original Equipment Manufacturer (OEM) of tyres for several vehicle brands.
Ferentino, produces passenger car tyres, truck and bus tyres, motorcycle tyres, scooter tyres and three-wheel tyres at its state-of-the-art plant in Horana,. Ferentino Tyres is part of Onyx Group based in UAE owned by Nandana Lokuwithana.
To mark its third anniversary Ferentino has also introduced an expanded range of tyre sizes, from 12 inches to 19 inches. With plans to resume motor vehicle imports — most vehicles requiring tyre sizes above 15 inches — Sri Lankan motorists will now have access to international-standard tyres at significantly reduced prices, said Chief Operating Officer Ushantha Jayalath.
As a Board of Investment approved enterprise, it can only supply 20% of its output to the local market and the company officials said it will enhance production to meet higher global and local demand.
They said the effort to expand in the Sri Lankan market was following discussions with Trade and Commerce Minister Wasantha Samarasinghe who is also keen to provide price reductions to Sri Lankan motorists recovering from the economic downturn. “The initiative ensures local consumers benefit from access to a premium international tyre brand renowned for safety, quality, and comfort — all at an affordable price,” Jayalth said.
“As a result, Sri Lankan motorists can now enjoy tyres that meet and exceed global standards at prices lower than comparable international brands. This initiative provides much-needed relief amid challenging economic conditions, delivering exceptional value without compromising on quality. It also ensures consistent pricing nationwide, via 450 dealers eliminating geographical or dealer-based price variations, according to Ferentino General Manager Sales Dhanushka Maduranga.
The new pricing of certain types of tyres will match imports from China, the biggest source for local trade. The passenger car tyre market is 100,000 tyres per month and for bikes and three wheelers it is 150,000 tyres.
The company said price reduction protects Sri Lankan consumers from misleading promotions and unrealistic discounts offered by brands with questionable quality standards. Instead, it allows them to choose a tyre brand validated by competitive international markets, ensuring comfort, safety, and quality at every step.
