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.
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