Laugfs Bharat metal cutting gas launched

Laugfs together with the Bharat Petroleum Corporation launched ‘Laugfs Bharat Metal Cutting Gas’ (LBMCG) yesterday.

Laugfs announced its signing of a joint venture agreement with the Bharat Petroleum Corporation of India to bring innovative metal cutting gas ‘Laugfs Bharat Metal Cutting Gas’ to the local market.

Just a few months after concluding its Initial Public Offering (IPO), the local giant announced that it had signed an agreement with India’s number one energy giant Fortune 500 Company Bharat Petroleum Corporation Limited to introduce this innovative Metal Cutting Gas to the local market.

Laugfs Gas Chairman W K Wegapitiya said this was a great achievement for the company as for the first time Bharat Petroleum India Limited has agreed for ‘joint branding’ to launch the “Laugfs Bharat Metal Cutting Gas” (LBMCG) brand.

“We will be using our existing as well as new infrastructure to make available our new product across the country including the North and East. The introduction of LBMCG is expected to revolutionize the country’s industrial sector by reducing the cutting gas cost by a significant amount giving considerable cost savings to industrial users,” he said. Wegapitiya said LBMCG is a hydrocarbon based industrial gas with a high flame temperature which produces an unparalleled fine cut finish and at a very low cost compared to acetylene.

LBMCG is used in the applications of cutting, brazing, heating, soldering, coating, gas surfacing, flame spraying, flame straightening and hardening.

According to the Chairman, the existing cutting gas that is available in the country is the most commonly used metal cutting gas in Sri Lanka - acetylene, which is mixed with oxygen.

“This is a very exciting year for Laugfs as we continue to get closer to our growing number of customers and the heart of the market in Sri Lanka,” stated the Chairman in conclusion,” he said.
Laugfs Eco Sri to expand with IPO

Harshini PERERA

Laugfs Eco Sri (Pvt) Limited, a subsidiary of Laugfs Gas is at the preliminary stage of discussion to go for an Initial Public Offering (IPO).

The funds collected from the IPO will be allocated for future expansion.The Sri Lankan vehicle emission industry will take sometime to adopt more practical technologies that are used in Singapore and Hong Kong.

The Government is in the process of strengthening the emission requirement for motorists. This is a good sign that Sri Lanka can utilize latest technologies in time to come with the support of public to adopt such advanced technologies.

Laugfs Eco Sri (Pvt) Limited initially started in the Western Province and expects to expand its operations to East and North areas from May this year.

“We have been engaged in 60 percent of business from Western province and it is time for us to expand to other regions,” Laugfs Eco Sri CEO U U Navaratna said.

“We will start three eco emission centres in the East and mobile operation will commence by May this year.

The value addition and expansion of the company will take Rs 150 million investment during this year. Altogether there will be 100 centers and 17 mobile centers and they will be linked to make the service more convenient,” he said.

“We have planned to avail our service to foreign countries such as Doha which has shown interest in establishing eco emission systems in those countries,” he said.

source - www.dailynews.lk