Monday, January 3, 2011

Sri Lanka tile firms merge

Jan 03, 2011 (LBO) - Two Sri Lankan tile companies in the Lanka Ceramics group, which is part of Ceylon Theatres, have completed a merged, a stock exchange filing said.

Wall-tile manufacturer Lanka Walltile Meepe has amalgamated with Lanka Walltile with effect from January 01, 2011 and the merged company will continue to be known as Lanka Walltile.

Production capacity at the fully automated factory in Meepe, south of the capital Colombo, was doubled a year ago while Lanka Walltile closed its older factory at Balangoda after workers accepted a voluntary retirement scheme last September.

Tile sales have recovered after the end of the island's 30-year ethnic war in 2009.

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