Colombo Engineering sold for Rs 275 m

Kiran Atapattu remains in senior post:

MTD Walkers PLC acquired 100 percent equity of Colombo Engineering Services Private Limited.

The company making an announcement to the Colombo Stock Exchange said the total purchase price of Colombo Engineering was Rs 275 million.

With this recent acquisition, MTD Walkers has re-entered the marine engineering industry to now become the biggest ship repair company in Sri Lanka.

MTD Walkers bought over Colombo Engineering Enterprises (CEE), a fully integrated, ultra-modern ship repairing facility which is strategically located within the port of Colombo.

The new company is re-branded as Colombo Engineering Services (Pvt) Ltd.

MTD Walkers Chief Operating Officer Lal Perera said, “This is a very exciting time in our company’s development. By re-creating this division for marine services we will be able to meet the needs of all marine engineering services required for ships plying our waters. Our acquisition of Colombo Engineering Enterprises will allow us to serve our clients with a dedicated specialist team and the Walkers workshop will add value to manage the complex calculations and operations these projects require.”

The new company, Colombo Engineering Enterprises will leverage on the existing Walkers’ fully equipped workshop to expand the current services offered by the Company. During the past, the lack of proper ship repair services has meant that many of the ships had to bypass the port of Colombo and travel to Singapore.

Kiran Atapattu has been appointed Head of the Marine Engineering Division of MTD Walkers PLC with immediate effect.

With his years of experience in this industry, Atapattu will continue to lead the operations delivering strategic services to vessels entering the Colombo Port.

Colombo Engineering Services (Pvt) Ltd., has fully-equipped marine engineering facilities for ship repair work, the most modern technology and equipment for underwater services and backed-up by a fleet of high-powered crafts to respond to requirements in the high seas.