Daily Times

KARACHI: Auto assemblers in Pakistan will be able to purchase alloy wheels at a lower price as Loads Limited, an automotive parts manufacturer, is gearing up to set up country’s first alloy wheel manufacturing plant. Alloy wheels, are made of an alloy of aluminium or magnesium or sometimes both. According to the company’s bourse filing, the Board of Directors of Loads Limited has taken a decision to begin local manufacturing of new alloy wheels, which are currently not produced locally and are being imported by car assemblers for their high end vehicles. Loads Limited makes radiators, exhaust systems, mufflers, and sheet metal components among other parts, and its clients include more than a dozen national and multinational companies engaged in the production of motorcycles, cars and heavy vehicles. The company Secretary Babar Saleem said, “Loads Limited’s wholly owned subsidiary, Hi-Tech Autoparts (Private) Limited, has signed an agreement with an Australian company for purchase of state-of-the-art Alloy Wheels manufacturing plant and procurement will be completed within six months while the said project will be installed in Bin Qasim Industrial Park, Karachi.” The financial plan is set to be finalized in an upcoming Board of Directors meeting, added Saleem. It is important to mention here that big names like Renault, Kia, Hyundai and Audi have recently announced their intention to assemble vehicles in Pakistan. The China-Pakistan Economic Corridor (CPEC) is now a reality and is expected to bring significant investments for infrastructure projects, especially road networks and energy, which will require support for the auto sector. Chief Executive Loads Limited, Munir K. Bana in an annual report said the company has strong demand for its auto parts from existing customers and the new entrants, who have announced their plans for setting up automotive assembly plants. The above factors are expected to maintain the growth momentum in the auto parts industry, added Bana. “The company will continue with its aggressive plan to invest in expansion and modernization to capitalize on the continuing growth of the auto industry. Management is determined to capitalize on opportunities through continued focus on quality, productivity, cost control and after sales service to improve its competitiveness”, said Bana. Loads Limited recorded first quarter (July-September 2017) sales of Rs 1.1 billion registering an increase of Rs 17 million as compared to the previous period, mainly on account of growth in Honda Civic and Suzuki Cultus.

Published in Daily Times, December 15^th 2017.