Victory Alliance (Pvt) Ltd unveils industrial graft adhesives factory at Ratmalana
View(s):Victory Alliance (Pvt) Ltd recently unveiled its first state-of-the-art factory at Ratmalana to produce industrial graft adhesives.
The company says it will have a production capacity of over 200 MT a month and more than US$ 3 million has been invested in the project.
The factory was opened by Rishad Bathiudeen Minister of Trade and Commerce while Deputy Minister of Housing and Samurdhi, Amir Ali was present along with Group Chairman Siriyut Siriyuttapong.
Victory Alliance (Pvt) Ltd has partnered with companies from Thailand and China, drawing on their expertise, to introduce production of industrial adhesives to Sri Lanka.
Production will mainly concentrate on adhesives used by the footwear, construction, automotive and furniture industry in Sri Lanka, India, Africa, Bangladesh and Pakistan.
“With the aim of expanding the industry of industrial graft adhesives in Sri Lanka, Victory Alliance plans to be the principal contact point for the local and foreign markets. With initial plans to export to the Asian and African market, Victory Alliance has ambitious expansion plans for the future. The technology used will be the same as in the Thailand factory; using fully fledged and automated manufacturing systems, Victory Alliance (Pvt) Limited offers the same quality and will continuously improve it for the satisfaction of local and export market customers,” the company statement said.
“With this joint venture we look forward to minimizing the imports of industrial adhesives and minimizing the outward remittance of Sri Lankan Rupees. We look forward to being a proud contributor to the growth of the Sri Lankan economy; by being an export hub of industrial adhesives,” said CEO Izzath Ibrahim.
Chairman of Victory Alliance, Thailand, Mr. Siriyut added, “Our company has made this strategic decision to enter the Sri Lankan market with the vision to take our business to the next level and make Sri Lanka our manufacturing and exporting hub and make ‘F-Tech’ a global brand in the near future.”