Alumex to be internationally accredited by top quality label organisations

Friday, 28 February 2014 00:56 - - {{hitsCtrl.values.hits}}

By Shabiya Ali Ahlam Sri Lanka will soon be able to supply top quality construction material to foreign markets with the nations premier manufacturer of aluminium extrusions opting for international accreditation. Alumex, a dominant player in Sri Lanka’s aluminium industry, shared with the Daily FT that to bring its quality up to international standards the company plans on obtaining accreditation from worldwide recognised quality label organisations established in Zurich, Switzerland, before the end of 2014. The move of opting for accreditation from quality label organisations ‘QUALICOAT’ and ‘QUALANOD’ will make Alumex the first of its kind to receive international certification for its processes, which in turn will help boost standards of the local aluminium industry. Alumex Managing Director Rohan Peris in an interview with the Daily FT said that by going forward with the accreditation the company will be on par with other international aluminium manufacturers. “Once accredited by these highly recognised organisations we will be able to cater to international markets. If companies in countries such as Bangladesh or India receive a bid from Alumex, the chances of us being picked are high because we will be recognised to have the required quality level. Not having such certifications for international markets will be a problematic since having local standards alone is not enough,” he said. While QUALICOAT and QUALANOD ensures that powder coating and anodized aluminium meets the necessary quality requirements making materials fit for construction, both the certifications are accredited to ISO 17025. Pointing out the edge Alumex will have in the local market with the accreditations, Peris said the company will be able to supply top quality constructions to support the rapid construction talking place in the country. “With the country having an ambitious target of increasing the number of hotel rooms to accommodate more tourists, we will be able to supply high quality materials that are of international standards. Foreign contractors handling the projects will have access to quality products in the country itself without having to import them. We are confident in Alumex being a source to the large scale projects that are coming up in Sri Lanka,” he added. Established in 1988 and has grown to become the leader in the aluminium industry by capturing over 50% of the market. In 2010 the company was acquired by Hayleys, making it a subsidiary of the group. Alumex has experienced a significant increase in demand for its powder coated products in the recent past and at present operates at almost 100% capacity. Alumex presently markets its products in Maldives, India and Bangladesh. The Company plans to grow its exports and have a strong presence in South Asia region. Earlier this month Alumex announced a Rs. 836 million Initial Public Offering (IPO), funds from which will be channelled to set up a powder coating plant thereby doubling capacity to 3600MT per annum and acquire die manufacturing equipment. In the financial year ended on 31 March 2012 the Alumex Group revenue was Rs. 2.19 billion and it rose to Rs, 2.43 billion in 2012/13 FY. After tax profit in 2012/13 was Rs. 306 million, up from Rs. 115 million in FY2011/12. In 2009, revenue amounted to Rs. 1.85 billion whilst after tax profit was Rs. 171 million. In the nine months ended 31 December 2013, revenue was Rs. 1.98 billion and after tax profit was Rs. 283 million.