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DN Tyre & Rubber Plc (“DNTR”) was incorporated in 1961 as Dunlop Nigeria Industries Ltd, a subsidiary of Dunlop UK and manufacturer/marketer of automotive tyres and was immediately listed on the Stock Exchange. It commenced business by trading in tyres imported by the Group Company while work was going on at its own factory at its Oba Akran, Ikeja premises. In 1963, the factory was finished and the business expanded into the manufacturing of automotive tyres.

In 1991 Dunlop Nigeria Industries Ltd changed its name to Dunlop Nigeria Plc in compliance with the Companies and Allied Matters Act 1990 which provided that all companies listed on the Nigerian Stock Exchange should reflect this fact by including the acronym “PLC” after their name.

The Company’s efforts at sourcing local raw material inputs for its production informed a strategy of backward integration. This resulted in the acquisition of the majority shareholding in Pamol (Nigeria) Ltd in 1991, a decision which offered DNTR a guarantee of uninterrupted supply of the right quality and quantity natural rubber, a major raw material in tyre manufacturing. Pamol is also an exporter of natural rubber.

Up until 2006, 25% of the shares of DNTR were held by Dunlop South Africa, 8% were in the hands of various State governments and the rest were held by various private Nigerian citizens. The Company however went to the stock market in 2006 to raise capital. This saw an increase of its nominal capital from N400 million to N2.7billion and the subsequent divestment of Dunlop South Africa, whom itself had been taken over by the Indian conglomerate, Apollo. The Company is now wholly owned by Nigerians hence its decision to remain in Nigeria despite the challenges faced by the manufacturing industry which has seen the departure of some manufacturing outfits from the country.

The infrastructural challenges of the Country however did lead to the Company suspending its manufacturing operations to concentrate on its marketing functions. Under this business re-direction, DNTR markets Dunlop tyre brands imported (from the Dunlop factories in South Africa and Japan) as well as other brands of tyres whose quality have been substantiated by the Company (from some Asian countries).

Though it has suspended its manufacturing activities, the Company is determined to retain the reputation for excellence which it had achieved as a manufacturer of automotive tyres. This reputation for excellence attracted the award of several quality laurels. These laurels include (but are not limited to) the globally recognized NIS Certification Mark of Quality awarded by the Standards Organization of Nigeria (SON) (for 15 consecutive years), SON’s ISO 9002 and the E11-Mark which is the European Community’s symbol of tyre excellence.

With a highly trained and competent workforce motivated by a shared dream and common ideals, the Company focuses on a glorious future as it continues to overcome the many challenges presented by the peculiarities of the Nigerian business environment.

MAY 2009

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