Driven by the initiative of his son, Mr. Navas Meeran, late Mr. M. E. Meeran established the company. Mr. Navas Meeran played a pivotal role in propelling Group Meeran to new heights with his diligent effort, determination, and a professional approach and his astuteness enabled him to identify a gap in the supply of tread rubber and other materials, leading to the establishment of Eastern Treads.
The company was formally incorporated on July 2, 1993, as a private limited company under the Companies Act, 1956, and in February 17, 1995, it was converted into a public limited company. Shortly before commencing its commercial production, it went for a public issue in October 1995.
Over time, the company built an extensive marketing network, involving dealers and depots, ensuring the availability of its products nationwide. Recognizing Eastern Treads' outstanding performance in manufacturing tyre-retreading materials, the company was honored with the FACT MKK Memorial Award for the year 2002-03. Additionally, the company obtained quality certifications and accreditations, including ISO 9001-2008. Right from its inception, Eastern Treads has consistently followed a trajectory of significant growth.
Mr. Navas Meeran manages Eastern Treads, along with The Kerala State Industrial Corporation Limited (KSIDC), which holds an 11% stake in the company and has nominated a director to the Eastern Treads Board. The company is technically qualified to participate in bids conducted by various State Road Transport Corporations.
Eastern Treads, in its continuous efforts to gauge consumer demand for tread material, introduced the Diamond Quality Tyre Re-treads. This new product promises enhanced mileage across diverse road conditions. The company holds a positive outlook for this offering, anticipating a competitive advantage in the future. Eastern Treads is strategically advancing towards greater success by intensifying its operational efficiency, ensuring resilience in the face of volatile market conditions, as exemplified during the financial year 2012-13.
Mr. Navas Meeran's dedication and optimism played a crucial role in Eastern's groundbreaking collaboration with the global giant McCormick in 2010. His contributions were recognized with the Kamal Patra Award in 1994, bestowed by the Indian Junior Chamber to acknowledge and honor exceptional young entrepreneurs.
The future of re-treaded tyres appears promising, given the escalating prices of new tyres. Contemporary re-treading technology ensures that these tyres possess the strength and durability comparable to new ones but at a more affordable cost. Moreover, improved road conditions now allow for multiple re-treads, adding to the economic viability.
This burgeoning sector presents Eastern Treads with new and exciting growth opportunities. Additionally, as an eco-friendly product, re-treading aligns with the growing global trend of adopting sustainable practices. This is particularly evident as more countries embrace environmentally conscious policies, akin to the 'Go-Green' initiatives pursued by the European Union.
Eastern Treads remains receptive to innovative ideas, aligning itself with evolving market trends and realities. This adaptability positions the company to emerge as a leading global player in the industry.
