Sunday Nov 17, 2024
Sunday Nov 17, 2024
Wednesday, 17 June 2015 00:02 - - {{hitsCtrl.values.hits}}
By Charumini de Silva
Laugfs Lubricants Ltd. yesterday confirmed a Rs. 600 million investment to commence operations of its own state-of-the-art blending plant in Malwatte, a senior official said.
The first phase of the blending facility is located on a four acre land in the Malwatte Free Trade Zone and will be operational from September this year, with a view of catering to regional markets, Laugfs Lubricants Managing Director Thilak de Silva told the Daily FT.
“Being the only Sri Lankan lubricant company, we see great potential in the industry,” he added.
The company has been incorporated as a Board of Investment (BOI) approved project, equipped with advanced technology and cutting edge R&D facilities and the plant will be geared to manufacture new generation engine oils and other industrial lubricants to serve growing industry needs.
He said as a conglomerate with strong Sri Lankan roots, Laugfs Lubricants is proud to offer products made to the highest international standards that can confidently compete with international brands.
Commenting on brand expansion plans overseas, de Silva said: “Initially we will be looking at South Asia. We are in a better position to produce a whole range of products at our new facility.
Thereafter our intention is to cater to international companies assuring a globally competitive lubricant brand.”
With this new facility, Laugfs will be in better shape to produce half of the current requirement in one shift. “The gradual progress of the company would assess the second phase expansion in the years to come, thereby supporting rapidly growing market demand,” he noted.
Laugfs Lubricants markets Laugfs Oil, a trusted brand offering a range of new generation automobile and industrial lubricant products. It is the only Sri Lankan lubricant company to hold licenses from the American Petroleum Institute (API), which defines global industry standards for motor oils.
Laugfs Lubricants also has Original Equipment Manufacturer (OEM) approvals for Volvo, Renault and Porsche vehicles, testament to its superior quality. Laugfs Oil products are currently blended in Singapore to global standards using high quality Group II Plus base oils and performance additives technology.
