GRI completes phase II of $ 100 m specialty tire factory expansion

Tuesday, 19 July 2022 01:30 - - {{hitsCtrl.values.hits}}

GRI has completed phase II of its $ 100 million production capacity upgradation investment for its specialty tire facility in Sri Lanka.

With phase II complete, production capacity will be increased by almost 100% from present capacity, to provide an output of 60 tons per day. It will support the increase in demand experienced for the company’s agriculture tire category that was launched in 2018 across key markets primarily in the USA, Europe and Australia.

The aim is to enhance GRI’s current production capacity to 750,000 tires per year. This entails a total capacity generation of 100 tons per day, which forms phase III of the expansion project, which is currently underway. Once complete, the entire project will include a 220,000 sq. ft expansion.

To accommodate a 60-ton capacity for phase II, a total footprint of 175,000 sq. ft. has been utilised. This expansion, which commenced in 2021, includes an increase of eight new tire building machines and 17 tire curing presses, the use of state-of-the-art technology for real-time decision making and machine optimisation and a constant focus on R&D enhancement of physical infrastructure in the factory premises.

When all three phases are complete, the entire expansion is expected generate a total of over 500 new employment opportunities.

CEO Dr. Mahesha Ranasoma said: “We are proud to have received such encouraging levels of customer acceptance for our radial as well as bias agriculture tires, which we present to the international markets we operate in as our GREEN XLR and GREEN EX brands.”

“As a result of this expansion, we are now able to double our current volumes and provide our customers the opportunity to grow their businesses. We are also happy to be serving Sri Lanka by creating employment opportunities through this expansion while generating much needed foreign earnings and export revenues for the country.”

The significant ramp up of production capacities has also been supplemented through a rigorous focus on sustainability led production initiatives as well.

GRI produces high-grade specialty tires that are built sustainably using pure natural rubber in Sri Lanka. Founded in 2002, the company produces material handling solid tires, radial agriculture tires and construction tires. GRI has operations in nine countries and a business presence in more than 50 countries worldwide.

Since 2018, GRI has been advancing in the rapid expansion of its specialty tire production plants and tire compound mixing facilities in Sri Lanka as well as its operations in key countries. GRI ensures its commitment to sustainability and environmental protection throughout its operations both locally and globally.