Sri Lankaâ€™s UML sets up unit for heavy machinery imports
ECONOMYNEXT – Sri Lanka’s United Motors Lanka (UML) said it has invested Rs75 million to set up a new subsidiary to import and distribute heavy equipment and machinery.
A stock exchange filing said UML invested in 7.5 million ordinary shares at Rs10 each of UML Heavy Equipment Ltd.
The new firm was set up recently for the import and distribution of heavy equipment and machinery for all construction, agriculture, waste handling, demolishing and earth preparation applications, it said.
(COLOMBO, November 02, 2017)