Sri Lanka may merge two state-run cement firms

ECONOMYNEXT – A re-structuring committee has recommended the merger of two state-run cement firms, one of which is a listed company, which are at the moment engaged in the import and sale of cement, a minister has said.

Lanka Cement Plc is listed on the Colombo Stock Exchange but Lanka Cement Corporation is an unlisted firm.

Industries minister Rishard Bathiudeen told parliament that Lanka Cement Plc earned revenues of 2.446 billion rupees up to September 2015 selling 2614 metric tonnes of cement.

Sri Lanka Cement Corporation had sold 2,090 metric tonnes of cement and lost 7.7 million rupees.  Revenues were not given.

A re-structuring committee has recommended that a voluntary retirement scheme be given to staff and the two firms merged, he said.

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