Laugfs Bharat metal cutting gas launched
Laugfs together with the Bharat Petroleum Corporation launched
‘Laugfs Bharat Metal Cutting Gas’ (LBMCG) yesterday.
Laugfs announced its signing of a joint venture agreement with the
Bharat Petroleum Corporation of India to bring innovative metal cutting
gas ‘Laugfs Bharat Metal Cutting Gas’ to the local market.
W K Wegapitiya |
Just a few months after concluding its Initial Public Offering (IPO),
the local giant announced that it had signed an agreement with India’s
number one energy giant Fortune 500 Company Bharat Petroleum Corporation
Limited to introduce this innovative Metal Cutting Gas to the local
market.
Laugfs Gas Chairman W K Wegapitiya said this was a great achievement
for the company as for the first time Bharat Petroleum India Limited has
agreed for ‘joint branding’ to launch the “Laugfs Bharat Metal Cutting
Gas” (LBMCG) brand.
“We will be using our existing as well as new infrastructure to make
available our new product across the country including the North and
East. The introduction of LBMCG is expected to revolutionize the
country’s industrial sector by reducing the cutting gas cost by a
significant amount giving considerable cost savings to industrial
users,” he said. Wegapitiya said LBMCG is a hydrocarbon based industrial
gas with a high flame temperature which produces an unparalleled fine
cut finish and at a very low cost compared to acetylene.
LBMCG is used in the applications of cutting, brazing, heating,
soldering, coating, gas surfacing, flame spraying, flame straightening
and hardening.
According to the Chairman, the existing cutting gas that is available
in the country is the most commonly used metal cutting gas in Sri Lanka
- acetylene, which is mixed with oxygen.
“This is a very exciting year for Laugfs as we continue to get closer
to our growing number of customers and the heart of the market in Sri
Lanka,” stated the Chairman in conclusion,” he said.
Laugfs Eco Sri to expand with IPO
Harshini PERERA
Laugfs Eco Sri (Pvt) Limited, a subsidiary of Laugfs Gas is at the
preliminary stage of discussion to go for an Initial Public Offering
(IPO).
The funds collected from the IPO will be allocated for future
expansion.The Sri Lankan vehicle emission industry will take sometime to
adopt more practical technologies that are used in Singapore and Hong
Kong.
The Government is in the process of strengthening the emission
requirement for motorists. This is a good sign that Sri Lanka can
utilize latest technologies in time to come with the support of public
to adopt such advanced technologies.
Laugfs Eco Sri (Pvt) Limited initially started in the Western
Province and expects to expand its operations to East and North areas
from May this year.
“We have been engaged in 60 percent of business from Western province
and it is time for us to expand to other regions,” Laugfs Eco Sri CEO U
U Navaratna said.
“We will start three eco emission centres in the East and mobile
operation will commence by May this year.
The value addition and expansion of the company will take Rs 150
million investment during this year. Altogether there will be 100
centers and 17 mobile centers and they will be linked to make the
service more convenient,” he said.
“We have planned to avail our service to foreign countries such as
Doha which has shown interest in establishing eco emission systems in
those countries,” he said. |