Rinstrum makes mark in Sri Lanka

Indunil HEWAGE

The newly formed Rinstrum (Pvt) Limited in Dankotuwa, a fully owned subsidiary of Australian based Rinstrum Pty Ltd is gearing up to reap the post war opportunities in Sri Lanka with an initial investment of $ 1.5 million.

Rinstrum manufactures components for industrial weighing applications, such as weighbridges, concrete batching and packaging machines. The BOI approved company has already begun the production at the former Venus Mills site, Dankotuwa from this month.

In an interview with the Daily News Business Rinstrum (Pvt) Limited, Director Paul Cooper said the $ 1.5 million investment will just be in equipment and a initial capital investment to the business. The company is driven by a global philosophy of smart weighing. We develop products and specialty weighing applications that are seen as highly innovative and competitively priced. “The move of our manufacturing

facility from Australia to Sri Lanka fits this smart weighing philosophy. The company currently does all the manufacturing in Australia and is looking to use Sri Lanka as a global manufacturing hub for our products.

All the assembling and programming work of components will be done in Sri Lanka and then these products will be directly sent back to the USA and Europe.

“Sri Lanka is close to our raw materials sources in Southern China and Malaysia, and trade routes to our European and USA markets are well serviced. Local staff are highly educated in all the needed areas, micro-electronics, business and science.

Laws are clear and are applied uniformly, English is widely spoken, It is easy doing business with the Sri Lankan government.These were the major reasons for Rinstrum to select Sri Lanka as the company’s new business expansion destination.

Once the company gets production established here, the company will have the ability to provide over 100 jobs for local youth. In a few years, Sri Lanka would become a comprehensive supplier to all of the products we make,” Cooper said.

Cooper also hailed the government’s ongoing development initiatives which will directly benefit business development activities in Sri Lanka. “ There are still challenges for Sri Lanka, but I think Sri Lanka is doing very well in terms of post war development programmes particularly in infrastructure development activities,he said.

Commenting on the Board of Investments role in facilitating foreign investments to Sri Lanka , cooper said that the role of BOI is very crucial for business development activities and it has a sound mechanism to facilitate foreign investors who prefer to invest in Sri Lanka. It is imperative to note that BOI has to make sure that right companies are coming to Sri Lanka to provide a wider service for the well being of the communities where they operate in.

Rinstrum Pty Ltd is based in Brisbane Australia and has offices in the United States and Germany.