Lahore: Service Industries Limited (SIL) announced on Thursday that it plans to expand its footprint in the tyre industry through the formation of a new subsidiary. The announcement was made as part of a disclosure of material information in compliance with the Rule Book of Pakistan Stock Exchange Limited (PSX) and the applicable provisions of the Securities Act, 2015.

The company's wholly owned subsidiary, Service Tyres (Private) Limited (STPL), is set to incorporate another wholly owned subsidiary named Service Tyres International (Private) Limited. This strategic move is aimed at bolstering SIL's presence in the tyre market.

According to information available from the Pakistan Stock Exchange (PSX), the planned expansion underscores SIL's commitment to enhancing its operational capacity. The venture will facilitate a broader reach in the tyre sector, potentially tapping into new markets and increasing its competitive standing within the industry.

The announcement, dated July 24, 2026, highlights SIL's proactive approach to business growth and market expansion. By establishing Service Tyres International (Private) Limited, the company positions itself to leverage new opportunities and address the evolving demands of the tyre market.

This initiative is a significant development in SIL's strategic agenda, reflecting a focused effort to drive business growth through targeted investments and subsidiary formation. The incorporation of the new entity marks a pivotal step in SIL's long-term vision for its tyre division.