LAUGFS to invest Rs. 350 mln in tyre plant

LAUGFS, the LPG company which has diversified into many areas including restaurants and apartments, will invest another Rs. 350 million in the next three months at their tyre manufacturing plant in Millewa, a company official said.

“At LAUGFS Rubber (Pvt) Limited in Millewa-Horana we will start making ‘solid tyres’ used for forklifts and other heavy machinery,” Thilak de Silva, Managing Director, LAUGFS told The Sunday Times FT.

He said the products are mainly for export to Australia and South Africa. “We have got orders from these countries, from companies which engage in mining,” he added. LAUGFS recently started the largest ever gas conversion centre in Perth, Australia to convert petrol car engines into gasoline. “It is still a cottage industry in Australia and we have a large competitive edge, because of our proficiency in gasoline conversions,” De Silva said.