Two of Sri Lanka’s oldest companies - Shaw Wallace Ceylon Ltd (a subsidiary of Renuka Holdings PLC) and McLarens Holdings Ltd signed a joint venture agreement on Thursday by forming McShaw Automotive Ltd to create an islandwide extensive automotive distribution channel.
The new joint venture, McShaw Automotive Ltd, aims to be the acknowledged market leader in the automotive sector in Sri Lanka excelling through global partnerships, innovation and technology while growing organically and by acquisition, according to a sttement issued by Shaw Wallace.
The company will be actively focusing on its business sectors inherited from the joint venture partners which include distribution of lubricants, car care products, tyres and tubes, batteries, auto parts and automobile fleet management.
Speaking at the launch ceremony Shamindra Rajiyah, Joint Managing Director said, “The primary focus of McShaw Automotive Ltd is to provide the Sri Lankan automotive industry with a one stop solution for most automotive needs by supplying the best of products and services. Proper maintenance alone is not sufficient to keep a vehicle in optimum running condition, the products and brands used also play a significant role and this where we will be excelling in.”
The company’s product portfolio includes Mobil automotive and industrial lubricants, Delphi Lockheed brake oil, Dunlop two wheeler tyres, Pioneer three wheeler tyres, Grip vehicle tubes and Cyclo car care products, some being market leaders in their categories.