Business
CEAT ramps up ‘2-wheeler’ tyre production by 85% in 3 months
CEAT Kelani Holdings has announced the achievement of an 85 per cent increase in the production of tyres for the ‘two-wheeler’ segment over just three months, as a full-bodied response to the needs of the local market consequent to the temporary import restrictions introduced by the government.
Maximising capacity utilisation at its manufacturing plants at Kelaniya and Kalutara, the company pushed production of tyres for motorcycles and scooters from 27,000 units a month in June 2020 to 41,000 per month in July and August, and is on target to produce 50,000 tyres in September, increasing volumes by 52 per cent in the first step and by an incremental 22 per cent thereafter.
The sharp increases in production of tyres for the two-wheeler segment follows similar ramping up of production of truck and bus tyres as well as passenger car radials by CEAT Kelani, which prior to these increases was producing half of Sri Lanka’s pneumatic tyre requirements. To achieve the increases in two-wheeler capacity, the company said it had utilised available capacity at its three-wheeler tyre plant in Kalutara.
CEAT Kelani currently manufactures 32 different types of scooter and motorcycle tyres in 43 varying specifications, and now caters to 37 per cent of local market requirements for two-wheeler tyres.
“The import restrictions challenge domestic industries to show what they are truly capable of, and we are pulling out all the stops to fully utilise the capacity we have to support the government’s initiative of import substitution through increased domestic manufacturing,” CEAT Kelani Managing Director Ravi Dadlani said. “We are continuing to look at ways of meeting demand for the most popular categories and sizes of tyres, and are keeping the government informed of the products that we are not equipped to manufacture, so that they can be imported.”
CEAT’s increased production of truck and bus tyres has resulted in the Company producing 100 per cent of the segment’s requirements and enabled the government to make a saving of Rs 11 billion a year in foreign exchange. The Company’s latest initiative in the two-wheeler tyre segment is estimated to enable a further saving of Rs 350 million a year through import substitution, Mr Dadlani disclosed.
The expansion of production capacity for this segment of tyres has resulted in a 100 per cent increase in the production of sizes 90/90-12 TL and 90/100-10 TL that fit popular scooter models such as Honda Dio, Yamaha Ray ZR, Honda Grazia, TVS Wego, and Suzuki Burgman. Meanwhile, CEAT’s production of tyre size 90/90-17 TL that fits motorcycle models such as TVS Apache, Bajaj Pulsar 160 NF and Bajaj Pulsar 180 has increased by 400 per cent, and the Company has achieved a 100 per cent increase in the production of the 100/80-17 TL tyre that is required for the popular Yamaha FZ. Production of tyres for Bajaj Pulsar 150, Bajaj CT 100, Bajaj Platina, and TVS Heavy Duty Super XL has also increased significantly, the Company said.
Notably, CEAT Kelani Holdings has kept the prices of its tyres unchanged since December 2019 to support customers and the economy, despite the additional investments made in increasing capacity and an increase in market prices due to demand.
CEAT Kelani Holdings is considered one of the most successful India – Sri Lanka joint ventures in the manufacturing sector. The joint venture’s cumulative investment in Sri Lanka to date totals Rs 8 billion, inclusive of Rs 3 billion committed in January 2018 for expansion of volumes, technology upgrades and new product development. The company’s manufacturing operations in Sri Lanka encompass pneumatic tyres in the radial (passenger cars, vans and SUVs), commercial (Bias-ply and radial), motorcycle, three-wheeler and agricultural vehicle segments.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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