Cey-Nor rides crest of profit wave, launches high-powered exportable boat

Shirajiv Sirimane

PROFITS: Cey-Nor Foundation has made a profit of Rs. 7.9 million with the total earnings being Rs. 327 million for the first nine months of this year. Last year Cey-Nor turnover was Rs. 229 million.

Chairman, Cey-Nor, Rohan Jayasinghe said the company was self sufficient in finances last year and this year the company has made large profits. He said the main reason for the turn around was the new thinking induced to the employees and also the securing of several export orders for their products.

One of the main problems faced by Cey-Nor was the lack of seed capital and this was one of the main priorities they successfully addressed. Recalling of dues owed to the company, good financial management, new innovations and building of boats after tsunami brought about the much-needed capital for re-investments.

He said they have introduced a special boat to Sri Lanka that can be powered by both motor and a sail. "This innovative product is gaining in popularity and we have already received several orders to build them from Sri Lanka and Bangladesh," he said.

The new boat is to be launched by the end of December and the Cey-Nor is planning to have a special training session for would be buyers of this boat starting from next month.

He said that they have also embarked on a project to build long liner system boats for the fishing sector. "These boats would be ready by July 2007 and they have received export orders for these vessels from India, Maldives and Bangladesh," he said.

Jayasinghe said that they are now looking at the requirements of the local leisure sector. "We are ready to build boats to any requirement and they can always contact us and we are ready to assist," he said.

The company also received the ISO - 9001:2000 certification and this too was a major achievement for the company.

He said President Mahinda Rajapaksa and Minister Felix Perera are keen to manufacture more boats and nets to meet the needs of the local fishing community.

"We are now looking at building a boat yard in Payagala to increase our production," he said.