Astern Treads Limited was founded by Mr. (Late) M.E.Meeran on the initiative taken by his son Mr.Navas Meeran who through hard work, determination and professional approach helped Eastern Group scale newer heights. It was the keenness of Mr.Navas Meeran that helped him identify the deficit in the supply of tread rubber and other materials which eventually led to the formation of Eastern Treads. The Company was incorporated on July 2, 1993 as a private limited company under the Companies Act, 1956 and it was later converted into a public limited company on February 17, 1995. Eastern Treads went for public issue later in October 1995 a few months before it commenced its commercial production.
Over the years, the Company developed a vast marketing network comprising dealers and depot making its products available along the length and bread of the country. In recognition of the excellent performance on productivity in the field of manufacturing tyre-retreading materials, the Company had received FACT MKK Memorial Award for the year 2002-03. Besides, the Company also received quality certifications and accreditations including ISO 9001-2000. In effect, Eastern Treads had a chartered growth path since its inception.
The Present
Eastern Treads is now promoted by Mr.Navas Meeran and Kerala State Industrial Corporation Limited (KSIDC). KSIDC holds 11% shareholding and has its nominated director in the Board. The Company has been technically qualified in the bids conducted by various State Road Transport Corporations. It’s in the process of receiving bulk purchase orders this financial year. Eastern Treads is making constant efforts to determine the likely trends in consumer demand for tread. This led to the launch of the new Diamond Quality Tyre Retreads.
Diamond Quality Tyre Retreads offers better mileage on diverse road conditions. The Company is optimistic that the new offering will give it a competitive edge in the coming years.The Company is navigating towards bigger success with greater focus on enhanced operational efficiency which helped Company to do well in the FY 2012-13 (see annual report) despite volatile market conditions. The Company is headed by the hardworking and optimistic Mr.Navas Meeran, who was instrumental in Eastern’s path-breaking alliance with the global giant Mc Cormick in 2010. He’s also the recipient of Kamal Patra Award for the year 1994. The award has been instituted by Indian Junior Chamber to recognize and honour outstanding young entrepreneurs.
The Future
Retreaded tyres have a great future since the price of new tyres is going over the roof. Besides, technology now provides retreaded tyres with the strength and durability of new tyres that too at a lesser price. Besides, the improved road conditions also now make it possible to go in for multiple retreading while short distance sector is opening up newer and exciting growth opportunities for Eastern Treads. Being an earth-friendly product, retreading is bound to get wider acceptance in the days to come with more countries following the Go Green Policy pursued by the European Union. So, at Eastern Treads, the mood is upbeat. It’s open to embrace new ideas in tune with the changing trends and market realities on its way to becoming a leading global player.
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