Laugfs to diversify

by Lalin FERNANDOPULLE

Laugfs Holdings will expand into three more sectors this year with substantial investments to provide more services to its customers, company sources said.

Laugfs has diversified to over 15 sectors and has made progress as a conglomerate during the past 10 years.

Laugfs Holdings Chairman, W. K. H. Wegapitiya with other officials at the media briefing

LPG, lubricants, retail supermarkets and fuel emission testing are some of the main sectors of the company.

Chairman, Laugfs Holdings, W.K.H. Wegapitiya said that the company has gained immensely from the economic revival in the country and would expand its business.

Laugfs competed with Shell, a multi-national oil giant and is today a leading player in the lubricant market. Laugfs plans to set up a five-star hotel in Chilaw this year making its presence in the country’s leisure sector.

In a landmark move Laugfs partnered with Bharat Petroleum, India’s energy giant to launch Laugfs Bharat Metal Cutting Gas (LBMCG) marking another milestone in the country’s industrial sector.

The tie-up marked a significant breakthrough in the country’s metal cutting technology which will be revolutionised by the expertise of two industrial giants.

Laugfs hopes to supply around 20,000 kilograms of LBMCG a month which is around 50 percent of the total market and then increase supply according to market requirements.

Wegapitiya said the new metal cutting gas will revolutionise the country’s industrial sector by reducing costs significantly. “LBMCG is less toxic, cost-efficient and user friendly. LBMCG users will save around 30-40 percent of the cutting cost” Wegapitiya said.

Acetylene, a commonly used method for metal cutting in the world, has an adverse impact on the environment. It is costly and forms more carbon than LBMCG.

The new product has safety features such as the impossibility to back fire or flash back due to less pressure in the cylinders. LBMCG will be available in 5kg, 12.5Kg and 37.5kg cylinders.

LBMCG is used in cutting, brazing, heating, soldering, coating, gas surfacing, flame spraying, straightening and hardening of metal.