Alumex Plc, a fully integrated manufacturer of aluminium profiles in Sri Lanka, is reportedly eyeing exports and planning to compete strongly in a domestic market with import tax protection so that the customers become free from paying higher prices for finished goods.
With the opening of a two billion rupee extrusion plant with the most modern technology and an output of 1,200 tonnes a month, Alumex is striving to reduce prices and meet global competition.
Setting the price of UAE aluminium as a benchmark, Managing Director Pramuk Dediwela of Alumex said, “We’re trying to match the prices of the United Arab Emirates.” He further said, “If we can match those prices, we don’t have to worry about imports coming from any part of the world."
The addition of Alumex’s new plant has expanded the local supply by threefold than the current local demand of 15000 tonnes per annum. It can alone produce 24000 tonnes of aluminium extrusion in a year.
Therefore, the country no more needs to secure aluminium extrusions from other countries, said Mr. Dediwela while adding, “When total local capacity is three times the demand, it’s a national crime to import.” “It will cost us in foreign exchange."
Alumex is rather looking at exports to utilize the plant capacity and aiming to set up two showrooms in India, one in the Maldives, one in Nepal and one in Seychelles to improve distribution networks.
Currently, exports to these markets are less than 2 percent of revenue and Alumex is targeting 10 percent, said Dediwela. Alumex may also enter the UAE market.
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