Nithya Group wins export award as highest forex earner
View(s):Nithya Paper and Boards Lanka Pvt Ltd won the Presidential Export Awards held earlier this week for being the “Highest Foreign Exchange Earner for the year 2017/18”.
Narayanasamy Gokulakrishnan -Chairman / Managing Director, receiving the award from Minister Harsha De Silva. Also in the picture is Sinnathamby Balasundaram – Director.
A media release from the company said that its journey began in 2010 with the approval of the Board of Investment of Sri Lanka for manufacturing of Kraft paper by recycling of waste paper.
Nithya Packaging Pvt Ltd, the parent company, decided to promote this industry in Sri Lanka due to the availability of waste paper.
“The foundation stone was laid in August 2010 and civil construction was completed in 2014, while the installation of all machinery was done by October 2015 .The installed capacity of the unit is 9000 metric tons per month with 4.4 meter deckle.
In December 2015 a trial run was done and the company started its commercial operation in January 2016. During the year the company was unable to perform profitably and in order to enhance its financial and marketing capabilities, they joined hands with Abdulla International, by the dilution of its share capital,” the release said.
Subsequently the company progressed and made its first export to Bangladesh in April 2016. The company obtained FSC certification and appointed international marketing agents which boosted their international market to include several countries such as Bangladesh, China, Kenya, Nigeria, Sudan, the Congo, Mexico, Cyprus etc, thus making it in a very short period, eligible for the Presidential Export Award.
Narayanasamy Gokulakrishnan is the Chairman/Managing Director and directors – Sinnathamby Balasundaram, Pandurenga Naidu Dhamodharan, Rajaraman Vijayaraman, Ms. Mangayarkarasi Gokulakrishnan, Ms. Nithyakala Dhamodharan, Ms. Vidhya Vijayaraman, Abdulla Seyyed Ariff Refaideen and Abdulla Imamdeen.