Specialty Tire Demand Spells Opportunity for GRI
Prabhash Subasinghe, managing director of Global Rubber Industries (Pvt) Ltd. (GRI), says demand for top notch specialty tires is fueling opportunity for GRI across the world. Subasinghe spoke to the Sri Lanka Association of Manufacturers and Exporters of Rubber Products (SLAMERP) during an industry panel in Singapore. He is chairman of the association, which was created in 1985 to represent manufacturers and exporters of rubber products in Sri Lanka.
Subasinghe told the group that the global specialty tire market is valued at $20 billion, and includes industries that have significant influence on the global economy — agriculture, mining, forestry, industrial, off-the-road and aviation.
“Therefore, the demand for high performance, reliable and technologically advanced speciality tires are increasing in today's fast paced circular economy,” Subasinghe said. “This offers a new frontier of possibility for us to take definitive action to augment our vision and increase the economic prosperity of the industry by becoming a global force in the years to come."