July 24, 2026 (MLN): Service Industries Limited (PSX: SRVI) plans to expand its tyre business through the incorporation of a new wholly owned subsidiary by its existing tyre arm, according to a submitted to the Pakistan Stock Exchange (PSX) on Friday.
The company said Service Tyres (Private) Limited (STPL), a wholly owned subsidiary of Service Industries Limited (SIL), intends to establish another wholly owned subsidiary under the name Service Tyres International (Private) Limited.
The proposed entity will be incorporated to support the expansion of the group's tyre business, the company said in its disclosure, without providing further details regarding the investment size, operational scope, timeline, or geographic focus.
Service Industries stated that additional information regarding the proposed subsidiary will be shared with the Pakistan Stock Exchange in due course.
The move indicates Service Industries' continued focus on strengthening its presence in the tyre segment through its wholly owned subsidiary, Service Tyres (Private) Limited.
The establishment of a dedicated international entity could support future growth initiatives, although the company has yet to outline the strategic objectives or planned operations of the new subsidiary.
Investors are expected to monitor subsequent disclosures for details on the business plan, capitalization, and expected impact of the expansion on the group's operations.
Service Industries Limited is one of Pakistan's leading manufacturers of footwear, tyres, and healthcare products, with operations spanning domestic and export markets.