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| Sunday, 11 August 2002 |
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Business |  |
| News Business Features Editorial
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BCC gearing up for better times BCC Lanka Ltd., which was on the verge of collapse, is now gearing up towards becoming a profit making body by expanding its businesses with the introduction of new items to the local market. Chairman Milinda Gunawardhana said the turnover of this State-owned company has been raised to Rs. 31.4 million from Rs. 19 million within five months after his taking over. He said the company is trying hard to pass the Rs. 70 million mark, which he described as the break-even point of the company, and to reach the target turnover of Rs. 100 million at the end of this year. The company is trying to achieve this target by introducing new items to the local market under the BCC brand name. These new items include BCC tea (two brands), vinegar, salt, washing powder, Angel baby soap and washing powder for baby nappies while the Night and Day soap will be re-launched. The company has invested Rs. 3 million to establish a tea packeting factory at Gampola, providing jobs for 150 people in the area. Through the launch of these products to the market, the company expects to achieve a Rs. 50 million turnover. The product launch will take place at the end of this month with the launch of the BCC Lanka website, he added. "Our efforts within the last five months were to ensure the continuity of the company and the job security of around 500 workers, even though the company was running at a loss of Rs. 100 million, with debts of Rs. 35 million to other companies and a Rs. 78 million overdraft," Gunawardhana added. He said experts in soap manufacturing, financial controllers and other experts were absorbed to the company to expand its businesses. The turnover of the company was raised by leasing its 296,000 square feet warehouses which were lying idle. |
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