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The Invisible
The Invisible
Posts : 2652
Join date : 2016-11-28
Age : 41

Sri Lanka's Chemanex Plc, to exit closed export unit Empty Sri Lanka's Chemanex Plc, to exit closed export unit

on Sat Oct 20, 2018 9:00 am
ECONOMYNEXT - Sri Lanka's Chemanex Plc, said it was selling a 70 percent stak in an export unit for 20 million rupees to the other shareholders.

Chemanex said the unit, Cal Exports Lanka (Pvt) Ltd, will reduce its capital and from 42 million rupees to 18.7 million and return 9.2421 rupees per share on 2.52 million shares.

The firm was set up to manufacture industrial powder and adhesives.

The firm had said earlier, it was closing the business as it was found to be unviable. (Colombo/Oct19/2018)
Ethical Trader
Ethical Trader
Top contributor
Top contributor
Posts : 5567
Join date : 2014-02-28

Sri Lanka's Chemanex Plc, to exit closed export unit Empty Re: Sri Lanka's Chemanex Plc, to exit closed export unit

on Sat Oct 20, 2018 2:32 pm
Thanks.

Naturally, many export oriented companies may become nonviable. Rest of the world can't compete with China because they support industries to export below the production cost. One should first study the Chinese model to breakthrough this impasse.
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Brave Heart
Posts : 171
Join date : 2018-10-17

Sri Lanka's Chemanex Plc, to exit closed export unit Empty Re: Sri Lanka's Chemanex Plc, to exit closed export unit

on Sun Oct 21, 2018 10:12 am
Agree with your view ET.
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