Tuesday Dec 24, 2024
Tuesday Dec 24, 2024
Tuesday, 4 June 2024 00:47 - - {{hitsCtrl.values.hits}}
From left: Sierra Cables Executive Director and Browns Investments CEO Panduka Weerasingha, Executive Director Shamendra Panditha, Non - Executive Director and LOLC Holdings Group Chief Financial Officer Sunjeevani Kotakadeniya, Sierra Cables CEO Harsha Jayatunga, Maldives’ ASK Holdings Managing Director Zain Hassan, Senior Executive Asim Mohammed, LOLC Group Chief Legal Officer Wasantha Batagoda and Legal Manager Nadeesha Koggalahewa
Sierra Cables PLC, one of Sri Lanka’s pioneering cable manufacturers, recently entered into a strategic partnership with ASK Holdings, a key supplier of hardware, construction and electrical engineering products and services in the Maldives.
The new collaboration between the two will further enhance the distribution, availability of high-quality products and market presence of Sierra Cables in Maldives while contributing to the ongoing development and growth of the region’s infrastructure in keeping with the company’s growing global footprint.
Sierra Cables currently fulfils orders from Sri Lanka for client projects and retail stockists in the Maldives. With this, the company has recognised the need for an improved and structured approach in order to maximise its sales presence in the Maldivian market and the collaboration with ASK Holdings is a significant step in strengthening Sierra Cables’ overseas marketing strategy.
With its network of showrooms across the Maldives, ASK Holdings has and continues to be a vital contributor towards Sierra Cables’ sales. In addition, Brown & Company PLC, one of Sri Lanka’s most diversified and leading conglomerates, of which Sierra Cables is a subsidiary under Browns Investments, the investment arm of the LOLC Group, plans to explore future collaboration opportunities with ASK Holdings.
Over the years, Sierra Cables has carved a reputation in the design, development, manufacture, marketing and distribution of copper and aluminium cable products.
Serving a diverse range of sectors spanning energy, industrial, speciality and communications markets in Sri Lanka and beyond, today, the company has expanded its reach to Asia, Eastern Europe, Australia, North America and various regions across Africa. This market penetration has been attributed to Sierra Cables’ ability to obtain the most stringent international certifications and its advanced manufacturing facilities in several global locations along with the presence of a dedicated marketing team in the Maldives as well.
The agreement between Sierra Cables PLC and ASK Holdings Ltd., was signed on 28 May to establish a joint venture named, Browns Electric Company Ltd. The new entity will synergise the strengths of both in order to solidify its presence further in the Maldivian market and beyond.
Browns Electric Company Board of Directors include Sierra Cables PLC Executive Director and Browns Investments PLC CEO Panduka Weerasingha, Sierra Cables PLC Executive Director Shamendra Panditha, and Sierra Cables PLC CEO Harsha Jayatunga. Additionally, two directors from ASK Holdings will join the board to steer the new venture towards success.
