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| Sunday, 7 December 2003 |
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| News Business Features Editorial
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Ceylon Glass to export bottles By Hiran H.Senewiratne Leading glass bottle manufacturer cum- supplier Ceylon Glass Company (CGC) will venture into the lucrative export market to supply bottles to leading food and beverage companies in the world. The company has already received many inquiries from leading wine companies from Australia and South Africa to supply glass bottles. The company possess world class technology to manufacture any type of glassware said CGC Chairman Rajive Prasad. He said that CGC a subsidiary company of Indian based Piramal enterprises recently acquired state-of- the-art technology from USA to cater to any market in the world. "The technology we possess is not available in this region", said a confident Prasad. He said that the latest technogy known as "Colouring Forehearth" was not available in most countries in the world not even in India. He said that at present the company dominated more than 95 per cent of the local market share and supplied all sorts of glass bottles to many industries in the country. According to Prasad the company was the main bottle supplier for leading beverage companies in the country such as Lanka Beverages (Coco Cola company), Elephant House, liquour companies Mendis, Rockland, DCSL and IDSL and all food manufacturing companies in the country. Prasad said that since the company was manufacturing an excess number of units to the local market it inspired them to pursue foreign markets. The company has a production capacity of 120 Mt per day and it has increased by 20 per cent this year as against 100 Mt last year. To increase the productivity level the company has introduced a Voluntary Retirement Scheme (VRS) to downsize the number of employess. At present the company has more than 350 employees and expects this to be applied for 40 to 50 of them. The company's first VRS scheme introduced in the July this year, is beleaved to be applied for 70 employess. However, another local glass related company Lanka Glass Manufacturing Company LtD (LGMCL) property of National Development Bank (NDB) is in the process of selling to an Indian company. At present its employees are protesting against the entity's divestiture to an Indian company, a trade union activist said. The company owed a large amount of loans Sampath Bank, Hatton National Bank and the NDB acting on behalf of the Sampath Bank which acquired the property "under parate". At present banks are making best effort to sell such assets that acquired property to recover their monies lent. . NDB on behalf of the bank obtained aa court order authorising them to take posession. |
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