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| Sunday, 26 October 2003 |
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Local company ventures into fire-fighting Edna Eagles (Pvt) Ltd, a new Board of Investment venture to produce advanced fire-fighting equipment, was established recently as a partnership between a local and British company. Edna, a name synonymous with chocolates and confectionery in Sri Lanka has also diversified into foundry engineering, agricultural equipment, electrical appliances, packaging, paper making, pharmaceuticals, weighing machinery and equipment, is the local partner. Edna had identified the British company, Holmedge Company Ltd of Manchester, as its partner for this joint venture to produce fire-fighting and protection equipment, marine valves, precision dies, moulds and patterns. The Rs 100 million project would export its products to customers in the UK, USA, Europe and Asia. The products would be made of bronze, aluminum and ferrous castings. Holmedge is a 150-year old company specialising in this field. Dr Stephen A. Owen, its Managing Director said Edna's long experience in foundry engineering and the availability of its modern semi-automatic foundry, CNC technology available at the Peradeniya University and the availability of suitably qualified and skilled engineering personnel in the country were reasons for locating this project in Sri Lanka. "Our initial discussions with Rohitha Bogollagama, Minister of Industries were most encouraging and the opportunities available in Sri Lanka for our investments were favourable in comparison with those of other countries in the region," he said. This industry would transfer new technology in foundry engineering, which utilises specialised metals. The products are widely used in oil rigs, super tankers and high-rise buildings. The company hopes to take advantage of the Indo - Lanka Free Trade Agreement to market its products in the Indian subcontinent. Edna Eagles would have its casting facility at Mawanella while specialised components will be made at a new facility to be established in the outskirts of Colombo. It would employ 100 persons during the first phase, when exports to Europe would reach US$ 2.5 million per annum. Edna has identified two more projects involving high-tech engineering of this nature that will involve the participation of investors from Italy and the UK. |
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