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Sri Lanka’s Atire becomes the World’s 1st carbon neutral solid tire company

Sri Lanka’s Atire becomes the World’s 1st carbon neutral solid tire company

Daily FT: In a ground-breaking move, ATIRE Ltd., the rapidly growing industrial solid tire company based in Sri Lanka, has redefined the standards of environmental responsibility by becoming the world’s first carbon-neutral industrial solid tire manufacturing company.
This incredible milestone, certified by the Sri Lanka Climate Fund – under the Ministry of Environment of Sri Lanka, highlights ATIRE’s commitment to pioneering sustainable industrial practices.
Established in 2019, ATIRE has rapidly become a leading manufacturer and distributor of world-class specialty solid tires, serving diverse industrial sectors across over 40 countries worldwide. Renowned for their performance and longevity, ATIRE’s products cater to various applications, including material handling, construction, agriculture, accessibility, and ports.
Founded in 2019, ATIRE is one of the fastest growing solid tire brands in the industry. Founder and Chairman, Deshamanya Anurath Abeyratne is a highly reputed Sri Lankan entrepreneur and philanthropist, who started by producing solid tires in the year 2000 for globally renowned brands such as Watts and Continental.
After producing over four million tires, in 2019 he started ATIRE, to build high-performance industrial specialty tires, whilst advancing the industry’s progress towards sustainability and serving the unmet needs of the market. As a member of Anunine Holdings, a diversified conglomerate with a strong focus on sustainability, ATIRE is part of a broader mission to drive positive change across multiple industries.
“In 2020, we made an ambitious commitment to become carbon-neutral in five years. I’m proud to state that we accomplished this goal in only three years. More importantly we are proud of the innovative sustainable initiatives that led us to reach this milestone, and to advance the global solid tire industry one step forward in its sustainability journey.
Looking ahead, ATIRE is committed to aggressively innovating to further improve our environmental impact, by embracing emerging technologies, and challenging the norms of our industry. Our goal being to ensure the advantages of these innovations extend to our customers, enabling them to minimise their footprint, and support their own journey in becoming carbon-neutral,” stated Atire CEO and Director Saveen Abeyratne.
The ceremony presenting the certificate of Carbon Neutrality for ATIRE was presented by the Secretary to the Ministry of Environment Prabath Chandrakeerthi on 19 February 2024 to ATIRE Directors Saveen Abeyratne and Sonali Abeyratne, alongside the key management personnel of Atire at the Ministry of Environment Sri Lanka, marking a significant milestone for the entire global solid tire industry.

OSL take:
The ongoing economic activities in the country have also pushed local businesses to be on par with the evolving global standards in businesses, especially in the manufacturing industry. The overall expansion in Sri Lanka’s manufacturing industry, in-line with the ongoing economic expansion, have presented a host of new business/investment opportunities. Sri Lanka’s commitment to achieving the sustainable development goals along with good corporate practices have resulted in many local businesses taking steps to capacitate their operations accordingly. Along with this commitment and the strength, resilience and growth recorded by Sri Lankan businesses even amidst challenging economic conditions is indicative that local businesses presented ample opportunities for foreign collaborations. On the other hand, the expansion in Sri Lanka’s private sector also indicates the growing business/investment opportunities in Sri Lanka’s key economic sectors. Given the ongoing trends in Sri Lanka and with the country fast becoming a business hub in the South Asian region, foreign businesses/investors could explore the growing opportunities in the country.

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Article Code : VBS/AT/20240315/Z_2

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