Sri Lankaâ€™s DIMO buys control of seed, fertiliser firms
ECONOMYNEXT – Sri Lanka’s Diesel & Motor Engineering said it has acquired control of two companies which import and distribute agricultural inputs like chemicals, fertilisers and seeds.
A stock exchange filing said it invested Rs345.5 million to take 51% stakes in the privately-owned Plantchem (Private) Limited and Plant Seeds Private Limited.
The two firms are engaged in the import, processing and distribution of agri inputs like crop protection products, specialised fertilisers and seeds, it said.
DIMO, best known for importing luxury Mercedes-Benz cars and also selling Tata vehicles, has diversified in to other activities including agricultural machinery and crops and fertiliser.
(COLOMBO, February 23, 2018)