Laugfs lubricant products in the market soon

by L. S. A. Wedaarachchi

Laugfs lubricant products will be in the local market shortly. The licence has been given to Laugfs Holdings Ltd to enter the lubricant market.

While the multi-national lubricant companies pointed out that there is no space for another lubricant producer in the Sri Lankan market, Laugfs said there was plenty of room for competitive companies in the lubricant market in Sri Lanka.

Chairman of Laugfs Holdings Ltd W. K. H. Wegapitiya said that his company has already made arrangements to produce high quality international standard lubricant products.

Laugfs is the unofficial third player in the energy sector in Sri Lanka with 21 fuel stations. We will have the only local modern lubricant blending plant in Sri Lanka backed by two energy giants who are world renowned. They give us modern technical knowledge and assistance, he said.

Having commenced operations in 1995 switching from gas to fuel car convertor, Laugfs enters a new chapter by producing and marketing lubricant products in Sri Lanka. It will be another landmark in its march to progress.

Wegapitiya, a business management graduate, broke the gas monopoly in Sri Lanka eleven years ago commencing his novel venture Laugfs Gas Lanka Ltd. At present Laugfs Gas enjoys 40 per cent market share of the local gas market having a well established islandwide gas supply network.

According to the chairman his company is under a diversification program venturing into the leisure industry opening a fifty roomed upmarket holiday resort, a chain of Chinese restaurants and rubber based industry are the latest business ventures to be launched recently.

Wegapitiya said the holiday resort will be a "boutique Hotel" specially designed for the European and East European upmarket tourists. It will be built at Chilaw.

Explaining the future market strategy the chairman said that the diversification is an attempt to reduce market risks. Diversification is a must for a strong financial future, he said.

"We bought two rubber factories in Horana - Millawa from the government. We have started to manufacture high quality mattresses for Germany and the local market. Laugfs Petals rubberised coir mattresses were introduced to the local market recently. High quality genuine rubberised coir products have a high demand locally and abroad, he said.

The Chinese restaurant Chain - Jade will be included in the Laugfs supermarkets which have been expanding vigorously due to consumer demand. The first Jade restaurant was opened at the Laugfs supermarket at Mirihana with a seven-million-rupee investment. The Maharagama Jade will be the next to be opened within a few weeks, he said.