Browns Investments completes Ajax Engineers acquisition
ECONOMYNEXT – Sri Lanka’s Browns Investments Plc said it had completed the acquisition of Ajax Engineers (Pvt) Ltd, a firm dealing in aluminium construction materials.
Brown Investments said in a stock exchange filing that it had paid 100 million rupees for a balance 49 percent stake, making it a wholly owned subsidiary.
Ajax installs aluminium curtail walls, doors, windows and glass fronts. The firm is classified ‘F1’ by the Institute of Construction Training and Development allowing it to bid for projects of any size, the company said.