COLOMBO, Sri Lanka — It might be a small, privately owned tire manufacturer headquartered in one of the world's smaller countries, but don't let that fool you.
Global Rubber Industries Pvt. Ltd., known around the world as GRI, has big plans to match its company name.
In fact, the Colombo-based company — with an array of products for the agriculture, construction and materials-handling sectors — has plans to double or perhaps triple its existing business over the next three to five years.
"We're talking about exponential growth, and we built the infrastructure for that," GRI Managing Director Prabhash Subasinghe told Tire Business in an exclusive interview.
"So now we're using our historical businesses and we're using our distribution footprint to maximize and leverage on what we've done in the past, to help us grow."
Growth — as well as sustainability — have been a hallmark of GRI since Subasinghe founded the company in 2002 as a manufacturer of solid tires. Although the firm does not share sales figures, GRI operates in 13 countries, including the U.S.; has sales in more than 70 countries; and has maintained and expanded its operations at plants in Sri Lanka.
The company has completed the expansion of its pneumatic-tire facility in Badalgama, about an hour's drive north of Colombo, Sri Lanka's capital. The $100 million Phase III expansion will increase annual production capacity for agricultural and off-road tires to more than 100 tons by 2026.
Growth in the original equipment market is a key driver of growth, according to Subasinghe. OE accounts for roughly between 30% and 40% of its business, including its complete portfolio of material handling, ag and construction tires.
"OEMs are a very big target for us," Subasinghe said. "We work with a lot of OEMs in various different business segments. And the sustainability piece becomes very important. ... We are driving innovation and sustainability in tires. We're the world's leader today in this. So for us, I think, that's a key growth area down the road."
@tire.business Global Rubber Industries (GRI), based in Colombo, Sri Lanka, welcomed a group of about a dozen journalists from across the world for a three-day event to highlight its operations, growth plans and most importantly, its commitment to sustainability.
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Earlier this year, GRI hosted a group of about a dozen journalists from across the world for a three-day event geared to highlight its operations, growth plans both underway and in the future, and most importantly, its commitment to sustainability and its environmental responsibility in minimizing its carbon footprint.
The company called the gathering "The Green Impact: Sustainability Specialty Tires for the Next Generation."
Among the event's highlights: