Browns Investments fully acquires Ajax Engineers

Browns Investments Plc has fully acquired Ajax Engineers Ltd., making it a wholly-owned subsidiary.

This was following BIL buying the balance 49% stake in Ajax for Rs. 100 million. It first acquired a 51% stake two years ago paying Rs. 100 million for 239,694 shares. 

Ajax is a leader in installing aluminium curtain walls, doors, windows and glass facades. Having commenced operations in 1982, the company has grown exponentially over the past 30 years and is today classified as a Super Contractor by ICTAD qualified to handle projects of any value.

BIL said Ajax has a fully-equipped modern workshop in Ragama which is equipped with German and Austrian machines.