Nithya Group wins Export Award for Highest Foreign Exchange Earner 2017/18

Wednesday, 26 September 2018 00:00 - - {{hitsCtrl.values.hits}}

Nithya Paper and Boards Lanka Ltd. won the Presidential Export Awards held on 18 September for being the Highest Foreign Exchange Earner for the year 2017/18. In fact the Company will go on to receive its ISO 9001: 2015 certification on 21 September, making the month of September one of double celebration for Nithya Paper and Boards.

The Company started its journey in the year 2010 with the approval of the Board of Investment of Sri Lanka for manufacturing of Kraft paper by recycling of waste paper. Nithya Packaging Ltd., the parent company decided to promote this industry in Sri Lanka due to the availability of waste paper.

The foundation stone was laid in August 2010 and civil construction was completed in 2014, while the installation of all machinery was done by October 2015 .The installed capacity of the unit is 9000 metric tons per month with 4.4 meter deckle.

In December 2015 a trial run was done and the Company started its commercial operation in January 2016. During the year the Company was unable to perform profitably and in order to enhance its financial and marketing capabilities, they joined hands with Abdulla International, by the dilution of its share capital.

Subsequently the Company progressed and made its first export to Bangladesh in April 2016. The Company obtained FSC certification and appointed international marketing agents which boosted their international market to include several countries such as Bangladesh, China, Kenya, Nigeria, Sudan, the Congo, Mexico, Cyprus, etc., thus making them in a very short period, eligible for the Presidential Export Award, namely that of becoming the Highest Foreign Exchange Earner for the year 2017/18, a formidable accomplishment indeed.

The Directors of Company are Narayanasamy Gokulakrishnan – Chairman/Managing Director, Sinnathamby Balasundaram – Director, Pandurenga Naidu Dhamodharan – Director, Rajaraman Vijayaraman – Director, Mangayarkarasi Gokulakrishnan – Director, Nithyakala Dhamodharan – Director, Vidhya Vijayaraman – Director, Abdulla Seyyed Ariff Refaideen – Director, and Abdulla Imamdeen – Director.