Daily News Online

DateLine Friday, 18 July 2008

News Bar »

News: Move to expand ocean area ...        Security: Minimum hassle, maximum security ...       Business: Avin Int’l freight crude oil to CPC ...        Sports: A ‘Red Letter’ day for young cricketers ...






Marriage Proposals
Government Gazette

Business Drive

Laugfs enters local lubricant market

Laugfs become the first ever Sri Lankan company to enter the highly competitive local lubricant industry with products manufactured with a local brand name.

W. K. H. Wegapitiya at the launching ceremony.

“The company is the first ever Sri Lankan brand on the market. Laugfs engine oils will initially be available in two distinct product lines and is intended to be Sri Lanka’s number one brand,” Chairman Laugfs Holdings Limited W. K. H. Wegapitiya said at the launching ceremony.

The Laugfs Lubricants Limited (LLL) a subsidiary of Laugfs Holdings Limited has now diversified into many business activities including gas, petroleum, super markets, engineering restaurants and many more.

“With the 15 years operations in the country LLL would be the fifteenth addition to their portfolio of business. The company’s total value has now reached Rs six billion to date following an audit done by a leading audit firm, Price Waterhouse Coopers,” he said.

Laugfs engine oils will initially be available in two distinct product lines Monogrades (Power P40+ and Power D40+) and Multigrades (Supreme Petra- Petrol Engine Oils and Supreme DX).

They also have a complete range of lubricants for industrial customers (hydraulic oil, greases, gear oil, cutting oil, compressor oil, white oils, transformer oils, circulation oils etc) as well as for marine customers will be introduced within the next tree months.

“The company will also have a range of specialty products, which includes break fluid, coolant, power steering fluid and other additives and enhances, he said.

Laugfs Lubricants limited began marketing licensed motor oil products on August 14, 2006 under a license issued by the American Petroleum Institute.

Supplementing the existing “Express Lube” business which was incorporated in the year 2000 and which consists of five total service stations-located at Havelock Road, Kohuwela, Battaramulla, Baseline Road and Kandy.

The stations provide a complete car care solution and offer a full range of lubricants and high-end car care products.


A lady driver at the Mag City ladies corner.

Mag City opens Ladies Corner

Mag City opened Ladies Corner at their Colombo workshop targeting lady drivers last week.

“We have noticed that most of the lady drivers are reluctant to go to workshops and they face many difficulties when they want to repair or service their vehicles. We at Mag City came up with an ideal solution, `Ladies Corner’ to facilitate these lady drivers,” Assistant General Manager Mag City, Jagath Parakrama said speaking to Daily News Business.

“We have recruited female staff to conduct operations at the Ladies Corner and lady drivers now can deal with this well trained staff for their vehicle repairs and other services. For busy ladies who do not have time to take their vehicles for the service station we have introduced a pick up service,” he said.

“Under pick up service Mag City will take the vehicle that needs to be serviced to the workshop and hand over the vehicle to the owner,” he said.

“Customers at the Ladies Corner now can enjoy different services offered by the Mag City such as internet cafe, and Mini theaters,” he said.

Parakrama also said Mag City will also go online by the end of this month to provide more convenient services for their customers. This will enable customers to purchase spear parts, tyres, batteries and other vehicle accessories online and company will deliver the purchased items to the doorstep of the customer.

GM growth expectations fall to single digit

General Motors, had estimated growth at 17-18% at the start of the fiscal. It lowered its target to 14% and now is expecting growth in high single digits.

“We were expecting double digit growth this fiscal as, initially, sales were good. But high fuel prices and higher inflation has hit the auto industry badly.

Moreover, interest rates have also risen, and the global recession has led to a slowdown in growth,” said president and managing director, General Motors India, Karl Slym. “Particularly when compared with June 2007, the company has shown negative growth, or degrowth, in June 2008 in terms of sales,” he added.

Director and vice-president, corporate affairs for GM India, P Balagendra said, “The company has expanded its production capacity at the Halol plant in Gujarat. From this year, the group will manufacture 85,000 units per annum, a roughly 40% increase from it 60,000 units per annum, it previously produced.

Interestingly, the company plans to absorb all 85,000 units in India by the end of the year. Of this target, the company had already sold 34,000 units at the end of June 2008.”

Besides this plant, the company is also opening another manufacturing facility near Pune, with an annual production capacity of 1.4 lakh units. “The new plant will be in operation at the start of September 2008. Once the plant is operational, the group would be able to manufacture roughly 2.25 lakh cars per annum,” he said. sify.com

Toyota plans to invest up to $700 million in Brazil

Japanese automaker Toyota Motor Corp. is planning to invest up to $700 million in Brazil to install a new manufacturing unit, Brazilian Trade and Industry Minister Miguel Jorge said Tuesday.

Toyota will install the new unit in Sorocaba, a city in Sao Paulo state.

The unit will have a capacity to produce 150,000 light vehicles per year and will start its operations in 2011. According to Jorge, Toyota’s investment was unveiled by company regional president Shozo Hasebe in a meeting with Brazilian President Luiz Inacio Lula da Silva.

Global automakers are interested in expanding their presence in Brazil to take advantage of record domestic demand.

Surging local demand is being fueled by solid economic growth and economic stability, which has increased household incomes and access to credit. Domestic auto sales hit a record in the first half of 2008, totaling 1.41 million units, up 30.0% from the same period the year before.


Gamin Gamata - Presidential Community & Welfare Service
Ceylinco Banyan Villas
Donate Now | defence.lk
LANKAPUVATH - National News Agency of Sri Lanka

| News | Editorial | Business | Features | Political | Security | Sport | World | Letters | Obituaries |

Produced by Lake House Copyright © 2008 The Associated Newspapers of Ceylon Ltd.

Comments and suggestions to : Web Editor