Investment US $ 10 million:

MASPRO Japan enters Lankan market

MASPRO, a top Japanese brand into TV receiving Equipment and TV antennas, satellite receiver and communication devices has entered the local market investing US $10 million.

The company plans to make Sri Lanka the launching pad to export the products to South Asian countries, Middle East and Africa while having the production base in Sri Lanka, Japan's Maspro - Denkoh Corporation President, Yoshimasu Hashiyama said.

He said that the resurgence of peace after three decades, the confidence on the Sri Lankan Government, the Free Trade Agreement with India and the reliability and trust on the local partner in Sri Lanka, Nippon Maruchi Lanka (Pvt) Ltd, has reasoned Sri Lanka to be selected as the first county in the MASPRO Global Expansion program. MASPRO is a leading Japanese company with more than half a century of experience in the trade.

The company's intention is not to bring finished goods from Japan but to design and develop products in Sri Lanka, from the parts processing to the final assembly, and complete the product in Sri Lanka generating employment opportunities to Sri Lankan people.

The newly established joint venture MASPRO Lanka will be a total solutions provider in television reception and broadcasting. The Japanese collaboration will develop local human resource capabilities spanning from research and development to production which will contribute to improve the level of technology in Sri Lanka. The initial product range will include VHF and UHF antennas and boosters and will also service the customers by installing them.

MASPRO Lanka Managing Director Shelton Fernando said the company expects to own a 50 percent market share soon by covering North and the East.