Laugfs to expand solid tyre output in Sri Lanka

ERJ staff report (DS)

Sri Lanka -- Laugfs Gas PLC is investing Rs.150 million (euro 1 million) in a group company engaged in manufacturing solid rubber tyres for the international market, Laugfs announced in a Stock Exchange filing.

The filing made on Friday said that Laugfs Eco Sri (Pvt) Ltd, a wholly owned subsidiary of Laugfs Gas PLC, has decided to invest Rs.150 million in convertible debenture at 6% per annum in Laugfs Corporation (Rubber) Ltd, a wholly owned subsidiary of Laugfs Holdings Ltd.

Laugfs Corporation (Rubber) Ltd is a BOI company currently in the business of manufacturing solid tyres for the export market, the filing said.

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Home page of Laugfs (includes press release)

Stock exchange filing from Laugfs