Dave Tractors plans steel-related diversification
Dave Tractors (Pvt) Ltd, the owners of Lankaloha Hardware Ltd, is planning diversification in related fields – steel related industries being topmost in their agenda, officials said. “We want to start projects in steel-related fields,” Mumtaz Siriwardena, Deputy Chairman and Managing Director – Dave Tractors told the Business Times.
She said that in a bid to complete the agri products range, Dave Tractors purchased Lankaloha Hardware Ltd (the former Ceylon State Hardware Corporation) in 2001 and now it manufactures and markets high quality mammoties (agricultural hoes), shovels, barbed wire, pick axes, crow bars, PVC garden hose’, barbed wire and stainless steel cutlery. “All products are marketed under the “LANLO” brand name,” she said, explaining that the company operates through four strategic business units; Agri Machinery and Equipment, Hardware Manufacturing and Distribution, Steel Factory and the Hotel Supplies Division.
Ms. Siriwardena added that their mammoties enjoy a major share and the high quality stainless steel cutlery range is supplied to both the local and foreign hospitality industry and households. The company exports stainless steel cutlery to the Middle East and Maldives, while its clientele in Sri Lanka includes leading hotels, government institutions and leading supermarkets. “We give lifetime warranty to the cutlery because they are made from the highest quality steel – which is 16% stainless steel and 10% chromium,” Ms. Siriwardena said.
Lankaloha also has wracking bars, grass slashes, knives, glassware, chafing dishes and linen, etc. Ms. Siriwardena said that the company has continuously modernized its production facilities to ensure high quality products by introducing state of the art technology. “Further we have expanded the distribution facilities and we maintain a high level of customer satisfaction which has enabled the company to maintain a steady growth and gain a competitive edge.”
She said that Dave Tractors, now in its 20th year in business also imports other agricultural machinery such as Combine Harvesters with rubber and steel tracks, the tractor mounted combines, power tillers, rice reapers, rice threshers, rotovators, disc ploughs tillers, sprayers, surrey tanks, trailers, agricultural accessories, tools, spare parts, etc.
Dave Tractors is the exclusive distributor for John Deere tractors, agricultural machinery, golf/turf equipment, construction and consumer equipment and John Deere Drip Irrigation systems. “Mechanization is an essential ingredient in the field of agriculture in Sri Lanka. Sophisticated tractors are commonly being used in other parts of the world and we are happy to see higher horsepower tractors, combines, threshers and reapers being used in our fields today,” Ms. Siriwardena said. She added that the Compound Annual Growth Rate (CAGR) of the company during the last three years was 55% while their tractors saw a 88% CAGR as against the market’s CAGR of 44%.
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