KARACHI: Service Industries Limited (SIL) has announced plans to strengthen its presence in the tyre industry by expanding its corporate structure through a new wholly owned subsidiary.
In a material information disclosure submitted to the Pakistan Stock Exchange (PSX), the company stated that its wholly owned subsidiary, Service Tyres (Private) Limited (STPL), intends to establish another wholly owned subsidiary under the name Service Tyres International (Private) Limited. The move is aimed at supporting the expansion of the group’s tyre business.
The company informed shareholders and regulators that the incorporation of the new entity is part of its long-term growth strategy. While the announcement confirms the intention to establish the new subsidiary, Service Industries noted that additional details regarding the expansion will be shared with the PSX in due course.
The disclosure was made in accordance with the requirements of the Pakistan Stock Exchange Rule Book and the Securities Act, 2015. The notification was signed by Company Secretary Waheed Ashraf and accompanied by the prescribed disclosure form outlining the proposed corporate development.
The planned incorporation reflects Service Industries’ continued focus on expanding its tyre business and enhancing its operational capabilities through a dedicated international subsidiary. Market participants will be watching for further announcements detailing the scope, operations, and strategic objectives of the new company once they are disclosed.
