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Sri Lanka's Chemanex Plc, to exit closed export unit Empty

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3 posters

Sri Lanka's Chemanex Plc, to exit closed export unit

The Invisible

The Invisible: Posts : 3116
Join date : 2016-11-28
Age : 45

Post n°1

Sri Lanka's Chemanex Plc, to exit closed export unit

by The Invisible Sat Oct 20, 2018 9:00 am

ECONOMYNEXT - Sri Lanka's Chemanex Plc, said it was selling a 70 percent stak in an export unit for 20 million rupees to the other shareholders.

Chemanex said the unit, Cal Exports Lanka (Pvt) Ltd, will reduce its capital and from 42 million rupees to 18.7 million and return 9.2421 rupees per share on 2.52 million shares.

The firm was set up to manufacture industrial powder and adhesives.

The firm had said earlier, it was closing the business as it was found to be unviable. (Colombo/Oct19/2018)

Ethical Trader

Ethical Trader: Top contributor; Posts : 5568
Join date : 2014-02-28

Post n°2

Re: Sri Lanka's Chemanex Plc, to exit closed export unit

by Ethical Trader Sat Oct 20, 2018 2:32 pm

Thanks.

Naturally, many export oriented companies may become nonviable. Rest of the world can't compete with China because they support industries to export below the production cost. One should first study the Chinese model to breakthrough this impasse.

Brave Heart

Brave Heart: Posts : 171
Join date : 2018-10-17

Post n°3

Re: Sri Lanka's Chemanex Plc, to exit closed export unit

by Brave Heart Sun Oct 21, 2018 10:12 am

Agree with your view ET.

Re: Sri Lanka's Chemanex Plc, to exit closed export unit

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