Switzerlandâ€™s KUK Electronic mulls plant in Sri Lanka
ECONOMYNEXT – KUK Electronic AG, a Swiss manufacturer of coils and electronics, is considering setting up a production plant in Sri Lanka, the investment agency, Board of Investment (BOI), said.
Manuel Inauen, Head of Business Development of KUK Electronics AG, has held talks with Malik Samarawickrama, Sri Lanka’s Minister of Development Strategies and International Trade, a statement said.
“The Swiss company was interested in the possibility of setting up a manufacturing plant in Sri Lanka with the objective of exporting their products,” it said.
KUK Electronic AG, established in 1990 in Appenzell, Switzerland, operates production facilities in China, Slovakia, France, The Netherlands and Germany.
The visit of KUK Electronics is a direct result of lobbying by the BOI with the help of Swiss investors already operating in the island.
The BOI Reinvestment Team comprising of Duminda Ariyasinghe, Director General of the BOI and Mahinda Ramanayake – Executive Director (Investor Services) visited Switzerland in September last year.
This visit was organized by another Swiss company, already established in Sri Lanka, Contrinex Ceylon (Pvt) Ltd., the BOI said.
It also targeted similar Swiss export manufacturers with an interest in setting up manufacturing plants in Sri Lanka.
KUK Electronic AG’s annual production includes the manufacture of over 200 million coils, over 1 million printed circuit boards and over 250,000 modules.
(COLOMBO, June 08, 2018)