Jamaica Ultimate Tyre Company Moves to Boost Operations

Jamaica Ultimate Tyre Company Limited (JU Tyre) is looking to introduce new products and services in order to improve its operations.

As stated in the 2019/20 Public Bodies Estimates of Revenue and Expenditure, the company intends to modernise and retool its plant to boost efficiency and productivity, and provide a reliable, competitive and cost-effective source of new and retreaded tyres, along with related tyre services.

The company also intends to improve its operating systems and working capital management.

An aggressive marketing, promotion and advertising campaign aimed at growing revenue will be undertaken.

JU Tyre was incorporated on July 24, 2001 as a wholly owned subsidiary of Jamaica Urban Transit Company (JUTC). Its core function is the provision of a reliable supply of retreads and new tyres to JUTC, at the most cost-effective prices.

Services provided by JU Tyre include wheel alignment and balancing, front-end inspection, as well as total truck and car wash. The company also markets its tyres and services to external customers, including other government entities.

JU Tyre forecasts a net profit of $21.57 million, up from $19.22 million in 2018/19, and aggregate expenses of $250.68 million, up from $228.04 million in the previous financial year.