Atlas sets up Rs.20 mln R and D research facility at Moratuwa University
View(s):Atlas has signed a MOU with the University of Moratuwa to set up a Rs. 20 million research and development laboratory at the university.
The decision to set up the R&D laboratory at the University rather than within the company premises was made with the intention of enhancing the opportunities and resources available to local academia in order to encourage, develop and nurture local engieering talent, to compete regionally, Nirmal Madanayake, CEO of Atlas, was quoted as saying in a media release issued by the company.
Speaking at the inaugural ceremony, Mr. Madanayake emphasized that Atlas’ partnership with the university would further assist local academia by encouraging them to link academic theory with practical and commercially viable business processes. He added that this approach would encourage more sustainable research and development processes as well as increase the opportunities and employability levels of the students.
The statement said the R&D lab will focus on developing and enhancing energy and cost efficient production processes, adding commercial value and versatility to existing products and to constantly develop new and innovative products.