Sri Lanka’s Expolanka USA unit settles case for US$6.75mn

ECONOMYNEXT – Sri Lanka’s Expolanka Holdings Plc, a freight forwarder with an international network said it had settle a case filed by a competitor through mediation.

RCS Logistics, a US based firm had sought damages saying Expolanka had taken several of its employees.

Expolanka said the group had agreed to pay RCS Logistics 6.75 million US dollars but accepted no liability.

Expolanka stock last closed at 5.60 rupees. (Colombo/Sept23/2019)

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