Yesterday, the Ceylon Glass Company Limited (CGCL) posted its 2007 annual sales and profit margin. The company total sales stands at Rs. 20,14 million and it has a Pre Tax Profit of Rs. 49 million. Compared to the previous years sales result of 18,57 million and 184 million in profit, it is a 23% growth. In a statement, CGCL’s CEO, Sanjay Tiwari said that it had been a landmark year in the company’s history. It successfully completed its expansion and modernization projects. The company installed a tpd plant last year which cost around Rs. 3.7 billion and relocated its manufacturing facility. The company is also planning to sale its twenty one acre land situated in the center of Colombo.
The new facility is equipped to have 05 manufacturing lines of which 4 are already in operation and the 5th line would be in operation by July 08. Two of the production lines have the colouring facility to manufacture different colours, shapes and sizes of bottles and is supported by the latest quality inspection machines, packing machines, glass laboratory equipments etc., which are comparable with any international manufacturing plant.
Located at Horana, Ceylon Glass Company Limited is a joint venture between Sri Lanka’s Board of Investment and India’s Piramal Enterprise Ltd. of India. The company produces colored wine and liquor bottles majority of which is exported to India, followed by Australia, the Philippines, Maldives and Mauritius.
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