Minister of Trade, Dr. Bandula Gunawardena visited the LAUGFS Corporation (Rubber) Plant in Horana on October 6. The minister was welcomed by the Group Chairman of LAUGFS Holdings Limited, W. K. H. Wegapitiya, Group Deputy Chairman, Thilak De Silva and Group Managing Director/GCEO, Piyadasa Kudabalage.
Sri Lanka has been able to become a significant player among global rubber exporters with rubber being a key agriculture product and economic export crop. Identifying the business potential in this lucrative industry, LAUGFS Holdings diversified into the rubber industry in 2008 through the establishment of LAUGFS Corporation (Rubber) Ltd., which is specialised in manufacturing industrial solid tyres. The Minister toured the LAUGFS Rubber factory in Horana; and obtained a detailed overview of the manufacturing facility.
With the core pillars of cutting edge technology, sustainable processes and strong ethics, LAUGFS Rubber currently operates one of the most modern and eco-friendly manufacturing plants in the country. The plant in Horana produces a full spectrum of industrial tyres including industrial solid tyres which are used for material handling, construction, mining and support equipment for a multitude of industrial operations. Bolstering these capacities are LAUGFS Rubber’s highly skilled workforce and heavy focus on research and development, including its fully fledged tyre and accessory design facility. In January of 2020 LAUGFS (Corporation) Rubber, unveiled the latest addition to its product portfolio with the Super Solid Loader Grip Tyre, the largest tyre manufactured in Sri Lanka.
LAUGFS Rubber concentrates on maintaining sustainable eco-friendly operations, its facility is outfitted with several environmentally friendly technologies including solar panels for electricity generation, an effluent treatment plant for recycling factory waste and rainwater collection to be used in the manufacturing process.
With a strong commitment to quality and environmentally sound manufacturing practices, LAUGFS Rubber has received the ISO 9001-2015 certification for policy management, ISO 50001-2011 certification for energy management and ISO 14001-2015 for environment management and utilizes globally recognised Total Quality Management (TQM) processes to produce Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) compliant solid tyres of international standards. LAUGFS Rubber tyres are exported to over 36 countries across 6 continents including the United States and Europe and the organization maintains overseas distributions offices in Illinois, USA and Florijnweg, Netherlands.
LAUGFS Corporation (Rubber) Ltd. is planning to construct the second line of production, by adding a new solid tyre plant, which would expand the factory capacity and double its current output. This project is estimated to be completed in two years. In addition to that an industrial pneumatic tyre plant is in the pipelines. The company has already taken steps to expand its distribution network by appointing three new distributors in France, UAE and the West Coast of USA.
LAUGFS Holdings Limited is one of the largest diversified business conglomerates and a trusted and well-loved home-grown business in Sri Lanka. Founded in 1995, LAUGFS today has expanded across 20 industries in Sri Lanka and overseas, establishing a strong presence as a leader and pioneer in the power and energy, retail, industrial, services, leisure and logistics sectors. With 3,500 employees and an annual turnover exceeding Rs. 60 billion, LAUGFS continues to expand and empower millions as a trusted Sri Lankan brand.
Newly developed Sathosa Motors Service Complex to service all vehicle brands
Sathosa Motors PLC and its new state-of-the-art vehicle service complex, is now serving not just Isuzu but also any brand of vehicle.
Pioneering automotive specialist, Sathosa Motors is the sole authorized agent for the world-renowned Isuzu brand, but the newly developed service complex will now undertake all kinds of services required for any brand of vehicle.
The internationally trained specialists are ready to serve you at the Sathosa Motors Service Complex now on weekdays from 8.00 am to 5.00 pm and on Saturday from 8.00 am to 1.00 pm at No 25, Vauxhall Street, Colombo 02.
Sathosa Motors PLC guarantees its customers reliable and convenient service and will undertake vehicle inspections, periodic maintenance, body and under carriage washing, interior cleaning and beautification, engine tuning, error diagnosis, accident repairs, air condition repairs, and many more at a highly affordable rate.
In addition, genuine spare parts, as well as lubricants and industrial services are available at discounted prices at the Service Complex.
Sathosa Motors PLC aims to provide high quality services at all times and all services are carried out strictly under health guidelines due to the prevailing COVID-19 pandemic situation.
Sathosa Motors announces that it has decided to keep all branches of the Sathosa Motors service network open to continue to serve its customers.
CSE trading bullish despite rupee hitting historic low against dollar
By Hiran H.Senewiratne
CSE trading activities were bullish despite Sri Lanka’s rupee registering a historic slump against the US dollar at 202/205 to the one month dollar in mid morning trade yesterday, after opening at around 200/203.The stock market moved up, though, anticipating March quarterly results to be exceptional. This is expected to be particularly true of the Hayleys Group and Expolanka. Accordingly, investors seem to be re-entering the market after January, stock market analysts said.
Further, approval of the US $ 500 million Chinese loan and the fact that the Port City Bill has been tabled in parliament have lifted investor sentiment in a significant direction of the stock market, market analysts said. Amid those developments, both indices moved upwards, especially the All Share Price Index went up by 1.22 percent. The All Share Price Index rose by 92.35 points and S and P SL20 went up by 19.21 points. Turnover stood at Rs. 4.72 billion with four crossings.
Those crossings were reported in JKH, which crossed 922,000 shares to the tune of Rs. 137.8 million, its shares traded at Rs. 149.25, Commercial Bank 950,000 shares crossed for Rs. 82.7 million, its shares traded at Rs. 87, HNB 155,000 shares crossed for Rs. 26.5 million, its shares traded at Rs. 132 and Ceylon Cold Stores 33,500 shares crossed for Rs. 20.1 million, its shares fetching Rs. 600.
In the retail market, five companies that mainly contributed to the turnover were, Browns Investments Rs. 793.6 million (123.1 million shares traded), LOLC Rs. 463.4 million (1.32 million shares traded), Royal Ceramic Rs. 442 million (1.2 million shares traded), Hayleys Rs. 442 million (five million shares traded), Dipped Products Rs. 372.3 million (6.2 million shares traded). During the day 197.3 million share volumes changed hands in 30480 transactions.
The market was quite bullish from the beginning and LOLC Group companies led the market. It is said that LOLC contributed 25.5 points to the All Share Price Index. Browns Investments 9.8 points and Vallibel One contributed 8 points to the All Share Price Price Index while Commercial Leasing contributed six points.
‘Embark on that long-awaited getaway with Emirates and enjoy special fares’
Emirates is launching seasonal fares that enable aspiring globetrotters to plan exciting adventures around the world as well as for students preparing to travel overseas. With Emirates’ generous booking policies, customers have the option to lock in these special fares and extend ticket validity for up to three years, enjoying greater flexibility and confidence when planning travel during unprecedented times.
Travellers in Sri Lanka can look forward to flight deals on all routes in Emirates’ global network, with return fares starting at only Rs 68,700 in Economy Class or Rs 257,500 in Business Class. These special seasonal fares are available for bookings made from 13 to 26 April 2021, and are valid for travel between 16 April and 30 September 2021*.
Featured destinations and starting Economy Class fares include: US$ 342 (about Rs 68,700 at current exchange rates) to Dubai, US$ 654 (about Rs 131,300) to Milan, US$ 644 (about Rs 129,300) to Paris, US$ 1,117 (about Rs 224,200) to New York, US$ 1,303 (about Rs 261,500) to Toronto and US$ 966 (about Rs 193,900) to Nairobi.
Special Business Class fares start at US$ 1,283 (approximately Rs 257,500) to Dubai, from US$ 3,127 (about Rs 627,600) to Milan, US$ 2,860 (about Rs 574,000) to Paris, US$ 3,618 (about Rs 726,100) to New York, US$ 3,654 (about Rs 733,300) to Toronto and US$ 2,179 (about Rs 437,300) to Nairobi. All fares in Rupees are subject to the rate of exchange on the day of purchase.
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