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Signed market and technical assistance agreement with MetEC
Horizon Addis Tyre is to produce 22 different sizes tyres for the various vehicles the Metal and Engineering Corporation (MetEC) produces.
Horizon Addis, the sole manufacturer of tyres in the country, has been supplying a limited amount of tyres for the market and has not been able to cope with the public’s demand in the last 40 years. This company has today a new market and will also receive technical assistance from its latest customer, according to the cooperation agreement it signed with MetEC on June 18. Umesh Davera, General Manager of Horizon Addis, who believes that both Horizon Addis Tyre and MetEC share a common vision of making Ethiopia self-reliant, said that the company has been trying hard to develop the right product in vast quantities to minimize the country’s dependency on imported tyres. Horizon is planning to produce tyres in 22 different sizes in the current fiscal year. According to the General Manager, all these sizes are presently imported from abroad. He said this move is a manifestation of Horizon’s commitment to the nation. The tyres will also be available for other interested buyers.
Davera appreciated MetEC for its decision to buy Horizon’s products as well as provide assistance, and promised to deliver the best products. “No local industry can develop without the support of the government,” Davera said. “The decision of MetEC to build in-country and work with local industries by substituting imported products with local products will be a strong message to all other government enterprises and their departments who hesitate to use local products,” he added.
“We should be proud of our Ethiopian products. We are indeed grateful for MetEC for selecting us as reliable and dependable tyre partners for the future,” said Davera.
Tena Kurnde (Col.), Deputy Manager of MetEC, said this agreement will save foreign currency, create job opportunities and transfers skills and knowledge. He said his corporation will use the tyres for all types of vehicles it produces.
In 2004, the then Addis Tyre Share Company was renamed Matador-Addis SC after the Slovak Matador Rubber Company, which had bought 61 percent of the Company’s shares. In 2011, the company was again renamed; this time to Horizon Addis Tyre when Horizon Plantation Plc, owned by the Ethiopian-born Saudi billionaire, Sheik Mohammed Hussein Ali Al Amoudi, took over the shares of Matador. Twenty nine percent of Horizon is still owned by the government.
Established in 2010 by the Council of Ministers, MetEC is a governmental institution set up to realize the government’s Growth and Transformation Plan (GTP) and accelerate the ongoing transition of the country into industrialization. The corporation comprises 15 semi-autonomous, and integrated manufacturing companies that are operating in more than nine different sectors.