|
|
 |
 |
 |
| Friday, 12 March 2004 |
 |
|
 |
Business | |
| News Business Features Editorial Security Politics World Letters Sports Obituaries
|
Noritake Lanka signs agreement for additional seven-year tax holiday by Irangika Range Noritake Lanka Porcelain (Pvt) Limited, signed an agreement for an additional seven-year tax holiday with the Board of Investment of Sri Lanka (BOI) yesterday. The agreement includes investing Rs. 100 million for expansion and new projects for the next seven years. Director and General Manager, Nimal Perera said that the company recorded a turnover of Rs. 1 billion in 2003. Eighty percent of their products are being exported to the USA and 20% to the local market. Within the first five years of signing the previous agreement with the BOI, the company had a successful achievement in exports and a substantial increase in production capacity. "The choice of many star class hotels, homes and best airlines in the world is Noritake products", he said. The company was awarded the ISO 9001; 2000 certification in 2003 and the export award in the industry category for the second time in 2002. Deputy Chairman and Managing Director H. Hirozawa said, "we are seeking avenues of automating the factory with modern technology and methodology. "We are eager to invest on large projects which will improve the products quality and productivity," he said. Noritake Lanka Porcelain (Pvt) Limited, formerly known as Lanka Porcelain (Pvt) Limited is a joint venture between Ceylon Ceramic Corporation and Noritake Company Ltd, Japan. The first shipment of the company's fine porcelain was exported on October 5, 1973. Since 1972, the company has enjoyed phenomenal success and brought prosperity to many thousands of its employees in rural areas in Sri Lanka. The company expanded in four stages in the last thirty years and at present employs 1,200 personnel and exports approximately 9,000 Fine China Dinner Sets of 91 pieces to the global market per month earning a large volume of foreign exchange to the country. |
|
News | Business | Features
| Editorial | Security
Produced by Lake House |
