Jamaica Ultimate Tyre Company Targeting Business Growth and Revenue Sustainability This Year

Programmed activities for the Jamaica Ultimate Tyre Company Limited (JUTyre) for fiscal year 2024/25 will focus on business growth, revenue sustainability and a return to profitability.

These will be achieved by implementing strategies tailored to increase sales of the company’s products to existing and new customers islandwide.

The entity plans to produce 9,000 units of retreaded tyres, representing an 80 per cent increase over the out-turn of 4,002 for fiscal year 2023/24.

Details of these and other engagements are outlined in the Jamaica Public Bodies Estimates of Revenue and Expenditure for the Fiscal Year ending March 2025.

JUTyre will, this year, also target the promotion of retreaded tyres as an environmentally sound and cost-effective option compared to the production of new ones.

Retreading saves on rubber and trees, which are critical ingredients in the tyre manufacturing process and is a sustainable development practice used globally to significantly cut carbon exposure and environmental degradation.

The entity also plans to refine its production and administration processes with the aim of achieving cost efficiencies.

JUTyre is also looking to partner with the Human Employment and Resource Training/National Service Training Agency (HEART/NSTA) Trust and other institutions to provide specialised training for staff, aimed at increasing their productivity.

Meanwhile, the entity will focus on broadening the supplier network to secure competitive prices and flexibility, potentially exploring supplier relationships in regions such as Asia, as JUTyre currently sources inputs exclusively from Brazil.

The company further indicates plans to continue modernisation of its plant through the replacement of old and outdated equipment utilised in its production process.

Additionally, JUTyre will be looking to upgrade two curing chambers that are utilised to bake retreaded tyres and replace wheel-alignment equipment.

The company was incorporated on July 24, 2001, as a wholly owned subsidiary of the Jamaica Urban Transit Company (JUTC).

Its primary role is to supply the JUTC with retreaded and new tyres at the most economical rates.

The company also markets its products and services to external customers, including other government entities.