Hayleys PLC, one of the leading diversified conglomerates in Sri Lanka opens a world class largest extrusion factory in the South Asian region in order to expand the production of aluminium extrusions. Hayleys invested over Rs. 2 billion to set up this modern state of the art factory of its subsidiary Alumex PLC, a fully integrated manufacturer of aluminium profiles in Sri Lanka since 1986.
Mohan Pandithage, CEO, Hayleys PLC said that this expansion will upgrade its manufacturing infrastructure and technology while continuing the supply of its unique aluminium profile ranges.
Addressing media in Colombo on Friday, he said that the demand for aluminium extrusions has surges significantly due to the quick growth of the country’s construction sector. The construction sector growth has helped the Alumex Group to achieve growth in its sales revenue. Alumex Group has over 53 per cent market share in Sri Lanka.
He also revealed that the company is performing well in the domestic market despite the challenges posed by ever increasing import of Chinese and Indian aluminium products.
Alumex PLC’s performance improved considerably during FY 2017-18 in comparison with that of the previous year recording a growth of 282 per cent to achieve a turnover of Rs.451.6 million.
Building on a strong momentum over the final quarter of the financial year 2017/18,
Hayleys PLC Group has achieved a record breaking top-line performance over last year as revenue increased by 47 per cent YoY to Rs.163.2 billion during the January to March quarter 2018.
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