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Saturday, 21 August 2010

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To serve North, East:

LAL partners SMB Leasing

Major infrastructure, services expansion mooted:

Lanka Ashok Leyland PLC (LAL) will enter to a partnership with SMB Leasing PLC (formerly the Seylan Merchant Bank Group) as part of the management’s strategic initiative to provide a total transport solution to the North and the East.

Intended to facilitate Lanka Ashok Leyland’s rapid expansion in these areas to support their post-conflict resurgence, the move will result in SMB Leasing representing LAL as a total transport solution provider in the two provinces.

This will encapsulate distribution for LAL vehicles, providing after-sales service, spare parts support and warranty obligations, in addition to leasing, and financing. SMB Leasing will also provide integral support for LAL infrastructure expansion, namely the construction of state-of-the-art after sales service centres, highway repair centres, spare parts outlets and vehicle showrooms in the North and the East.

Given the surging demand for LAL vehicles in the North and the East, LAL with SMB Leasing have earmarked for completion at least six sites for construction of modern workshop facilities by the end of 2010, LAL CEO Umesh Gautam said. “Lanka Ashok Leyland had entered into an agreement with People’s Leasing Company for the supply of 1000 buses before March 31, 2011 with the majority set for delivery to the North and the East.

This had expedited the need for Lanka Ashok Leyland workshops and spare parts facilities in the regions and the agreement with SMB Leasing will help facilitate such expansion,” he said.

“The North and the East represent an important market for us, not only in terms of business, but in terms of the opportunity that presents itself to support the Government’s and the private sector’s efforts to develop transport infrastructure,” Gautam said.

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