United Motors Lanka PLC (UML) has acquired Dutch Lanka Trailer Manufacturers Limited (DLT) in accordance with Rule 8.1 of the Listing Rules of the Colombo Stock Exchange.
According to UML filing at Colombo Stock Exchange (CSE), the Share Sale and Purchase agreement, executed on Tuesday, entails United Motors Lanka PLC's purchase of 100 per cent shareholding in DLT for a total consideration of Rs.700 million.
DLT is a Board of Investment (BOI) registered company established in 1992, specialising in the design, engineering, and manufacturing of port and road trailers for domestic and export markets.
The acquisition is subject to regulatory approvals and customary closing conditions
DLT based in Kelaniya, exports its machinery to more than 45 countries and has 30 per cent market share in port trailers in West Asia and 65 per cent market share in road trailers in Sri Lanka and Bangladesh, UML sources said.
It exports road trailers and ports trailers such as Terminal Trailers, RORO Trailers, Skeletal (Corner Guides), Draw Bar Trailer, Skeletal Trailers, Bunded Trailers, Fuel Tanker (Re Fueller), Spreader Trailer, etc.
DLT commenced trailer production in 1998 from Kelaniya factory in Colombo initially, shifted to 11 acres premises to area near Colombo port. DLT has capacity to produce 3500 trailers per annum.
DLT employs a highly competent and motivated Design and Development team for engineering all port and road transport solutions and developing new applications on rigid and trailers. (Bandula)
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