Caltex, Daioh to bring in forex

Daioh Lanka (Pvt) Limited, a joint venture between Peonex Trading Company (Pvt) Limited in Sri Lanka and Daioh Machinery Company Ltd in Japan was formed as a result of the friendship ties between the Colombo Port of Sri Lanka and Kochi Port of Japan.

The operations in Sri Lanka commenced on June 1 having combined the operating synergies of the two companies and leveraging their capabilities to the Sri Lankan economy. The objective of this project is to assemble, re-condition and re-export heavy machinery to overseas markets as well as supply the local market and assist in the maintenance of heavy earth-moving machinery and equipment in Sri Lanka.

The company which has invested in a new technical support centre in Ratmalana with state-of-the-art Japanese technology, has the capacity to repair and maintain all types of earth-moving and construction machinery demanded by the customers.

Daioh Lanka (Pvt) Limited will enter into an agreement with lubricant marketer, Caltex Lubricants Lanka Limited, to facilitate their operation with a complete package. Caltex will share their local experience and global expertise with Daioh in addition to some resource support to add real value to this new project.