An associate entity of Alliance Finance Company PLC – Macbertan (Pvt) Ltd will set up a new adhesive manufacturing plant in the coming year, the Deputy Chairperson of the Alliance Finance Group Romani De Silva outlines.
In the latest financial review of Alliance Finance PLC she points out that Macbertan has been the dsistributor for Pidilite products in Sri Lanka over a long period and recently formed a Joint Venture with Pidilite International PLC of India, known to be the largest manufacturer of adhesives in Asia.
“Accordingly, under this newly-formed company, a new manufacturing plant will be setup in Sri Lanka,” she adds in her review. During the year under review, the product offering of Macbertan had expanded providing customers with a wider choice of selection in the face of intense competition in the core business of the company. The extensive dealer network is being utilized to provide the hardware sector with complementary products.
According to the company’s Deputy Chairperson, the company had also setup a new production plant for a roofing product. During the financial year the company had been able to increase its profitability from Rs. 30 million to Rs. 36 million in the face of intense competition.