AMW restructures operation, reduces locations across Sri Lanka
View(s):AMW, a wholly-owned company of Al-Futtaim, which provides some of the world’s most-recognised automotive brands, services, and mobility solutions to customers, announced this week that it has begun the process of identifying locations to close across Sri Lanka.
The restructuring of AMW is in direct response to Sri Lanka’s current economic situation and the challenges that high inflation, vehicle import bans and high interest rates place on the automotive sector, the company said in a statement.
Over the coming weeks, the company will select which locations to close, with the closures taking place over the next few months. It will maintain its owned facilities and businesses across the country including its brand partnerships with Nissan, Suzuki, Yamaha, Renault and New Holland.
Peter Mackenzie, Group Managing Director, AMW, commented: “As a family business, people are our most important asset, and we have a responsibility to focus on decisions that protect our people and partners for the long term. While these decisions are always difficult, we are confident that these are the changes we need to make to ensure business longevity. This is a strategic decision for us to consolidate our business and focus on our strengths. We are committed to ensuring AMW remains operational, continuing to work with its principals and maintain the highest level of customer service.”
AMW employees have been informed of the resizing by management and AMW has committed to offering the highest level of support to all employees during these challenging times.
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