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“The board’s decision to return to the tyre business reverses the earlier communicated decision made on April 20, 2020, to exit from the tyre business,” said the firm. “This change has been justified by the sustained demand for the Yana brand and the success of the company’s turnaround efforts in 2020.” The decision followed a meeting on January 22 where the board gave nod to a four-year strategic plan that lays out the firm’s renewed growth. Subscribe to Our Newsletter Subscribe to our newsletter and stay updated on the latest developments and special offers!  “Under the pla...

Sameer makes U-turn on tyre business after shutting it down Monday February 08 2021 A worker at Sameer Africa. Sameer has returned to the tyre business after exiting it in May 2020. FILE PHOTO | NMG By HELLEN GITHAIGA Sameer Africa #ticker:SMER has returned to tyre distribution after shutting down the division in May last year to tame a loss-making streak amid efforts to cut costs, including outsourcing production to Asia. At the time, the Nairobi Securities Exchange-listed firm told its shareholders that it would focus on its real estate business, which it projected would return it to profi...