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A 5 Million Dollar Auto Parts Manufacturing Plant in Sri Lanka.


A Canadian Automative Firm specialized in Original Equipment Manufacture (OEM) is planning to invest U.S.$ 5 Million to establish a manufacturing plant in Sri Lanka.  The Firm Matcor Automative Inc., is specialized in manufacturing body parts for almost all the auto brands including the leading American cars.  The Company expects to use Sri Lanka as a strategic location to cater to the booming Indian auto market.
The Vice President of the Matcor is presently in Sri Lanka for negotiations with the Board of Investment officials and for finding a suitable location for establishing the plant.

The visiting Vice President of the Company has said that the Sri Lankan plant will be mainly manufacturing OEM body parts for India’s GM, Ford, Chrysler and Mercedes Benz, for export to India taking advantage of the Free Trade Agreement Sri Lanka has with India. The plant is expected to provide employment for about 500 workmen and the senior management of the plant will come from Canada.

The company has its presence in 16 locations in Canada, USA and Mexico. Apart from automotive operations, it has a fabrication unit which accounts for 30 percent of its revenue that manufacture construction, agriculture and off-road equipment.(niz).

Source : http://www.news.lk/index.php?option=com_content&task=view&id=16142&Itemid=44


Posted on Tuesday, September 07, 2010 @ 09:29:59 LKT

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