BCC recuperates to a money-spinning venture
PRODUCTION: BCC (British Ceylon Corporation) Lanka Ltd, a
company that was on cards to be privatised will soon commence production
Chairman, BCC, S. A. R. Maddumabandara said that they have now
shelved its plans for privatisation as BCC can be converted to a profit
making venture once again.
The company is now in the process of repairing machines which have
been out of operation for over four years. "President in his election
manifesto promised that State ventures would not be privatised and this
is also a fulfilment of one of these pledges," he said.
He said that the company established in 1838 by the British, has
earned a name for their products sold under the BCC brand. "We will
first manufacture soap and then look towards producing coconut oil," he
The soap manufacturing machines according to engineers can be
repaired with local resources. The company's soap products range include
Night & Day, Suvendra, Snow Flakes, Sovereign Bar soaps and Pynol
"We are planning to introduce these products to the market from next
month. BCC hopes to capture 25 per cent of local market share in one
year," he said.
He said subsequently they would be looking at reproducing coconut oil
based products. Cook's Joy had been one of the flagship products of BCC
and the company is also a specialist in coconut oil refining.
However, the company will have to invest to modernise machinery used
for coconut oil production. "We hope to obtain funds for this from the
Treasury," he said.
When the machines are in operation, they would purchase coconut oil
from local manufacturers. "Presently imported palm oil is being sold in
the local market and foreign exchange is spent largely," he said.
Maddumabandara said that the company was in bad state with regular
trade union action and the institution was also heavily overstaffed.
The company offered a voluntary retirement scheme for nearly 200
employees. "This cost us Rs. 257 million," he said.
This has resulted in the shelving of company overheads and bringing
to an end trade union action. "When both the soap and oil manufacturing
are in full operation BCC would once again be a high profit making
company," he said.