Karachi, Service Global Footwear Limited disclosed plans for the expansion of its associated company, Service Long March Tyres (Private) Limited (SLM), according to information available from the Pakistan Stock Exchange (PSX). SLM aims to double its manufacturing capacity and increase its export targets to $100 million by 2025.

SLM, a joint venture involved in manufacturing all steel radial tyres for trucks, buses, and off-road vehicles in Pakistan, plans to invest an additional Rs 30 billion. This investment will support the launch of a new project aimed at exporting specialized tyres to the European Union and the USA. The expansion announcement was made during a meeting with Pakistan's Prime Minister Shehbaz Sharif, where SLM's Chairman Jin Yongsheng and CEO Omar Saeed thanked the government for its support of the tyre industry. Prime Minister Sharif has assured continued support from the government to aid export-led growth, involving multiple ministers and secretaries in the discussions.

Service Global Footwear Limited and its holding company, Service Industries Limited, currently hold 18.91% and 32.09% equity stakes, respectively, in SLM. The expansion plans are documented in a disclosure form released by the company, underscoring the strategic steps being taken to enhance production capabilities and reach new international markets.