Sri Lanka’s ACL buys 51-pct stake in cable firm for Rs481mn
ECONOMYNEXT – Sri Lanka’s ACL Cables said it plans to buy a 51 percent stake in another cable manufacturing company called Cable Solutions for 481 million rupees.
A stock exchange filing said it eventually will buy 75 percent of Cable Solutions along with other investors.
Cable Solutions Pvt Ltd., which makes cables and wires for the electrical and electronics industry, has a factory at Flinth Industrial Park, in Kadawatha, north of the capital Colombo.
It is the main plant of Cable Solutions Europe AB, in Sweden, which also has a plant in Kerala, India.
The Flinth Industrial Park is run by Swedcord Development, Sweden, and provides infrastructure amenities and support services for manufacturing firms.
(COLOMBO, 26 November 2019)