Ceylon Glass Rs. 3.7 b. expansion nears completion
Director CGCL Maxi Prelis and Managing Director and President
CGCL. Sanjay Tiwari in Colombo. Picture by Saliya Rupasinghe
Ceylon Glass (CGCL) would be investing Rs. 3.7 billion for a new
production plant in Horana. This would be completed in the fourth
quarter of the current financial year.
Managing Director and President CGCL, Sanjay Tiwari said that with
the completion of this project, the current production capacity for
manufacturing coloured bottles of different shapes would be more than
"The downstream flexibility for manufacturing is also being enhanced
by two additional lines, thereby resulting in a total of 5 manufacturing
lines, while it will be equipped with the latest automatic inspection
machines as well as a chemical coating facility," he said.
According to Tiwari sales were up by 15 per cent to Sri Lankan Rupees
973 million while Profit after Tax was up by 22 per cent to Rupees 88
"Sales during the half year period were Rupees 973 million, a growth
of 15 per cent compared to Sales of Rupees 846 million of the same
period the previous year. Profit before tax too increased to Rupees 126
million, which represents a growth of 20 per cent over the 1st half of
the previous year".
The Company's performance in the second Quarter ending September 30th
showed a growth of 20 per cent in sales.
The profit after tax in the second quarter displayed a growth of 29
per cent as against the corresponding quarter of the previous year. CGCL
has seen a continuous growth in its Export Sales over the past few
"Coloured wine and liquor bottle sales to India had been a mainly
contributed to this achievement. It is encouraging to note that the
export growth in the 1st half of the current financial year is more than
290 per cent as compared to 108 per cent during the corresponding period
of the previous year".
Tiwari said that the World Market for F and B Glass is over 12
billion US$ and growing at 12 per cent, the cosmetic and perfume glass
is US$ 1.9 billion and is growing at 5 per cent, while the
Pharmaceutical glass market is approximately US$ 2 billion.
Key Markets for specialty Food and Drinks are the US and Europe which
are forecast to be US$125 billion by 2009. He also said that the growing
worldwide demand for specialty glass containers have presented
opportunities for the Company to enter the niche market for coloured
"We are already the sole supplier of blue bottles for a major brand
of the world's second largest liquor producing company and we are
currently exploring export opportunities in India, the Philippines,
Mauritius, and Australia".