Hayleys Group Archives

December 9, 2022

· Wins 20 prestigious accolades at National Chamber of Exports Annual Awards 2022

· Ranked No.1 Corporate for 2nd consecutive year by Business Today Top 40 2021-2022

The Hayleys Group received top honours at the recently concluded National Chamber of Exports Awards, with its export manufacturing, agriculture, tea export, and transportation and logistics sectors honoured for their resilience and significant contributions to the nation amid the unique challenges faced over the past year.

Moreover, the diversified conglomerate’s contributions to the country’s revenue generation as a responsible corporate citizen, a key criteria for the judging panel, ensured its ranking as the number one corporate for the second consecutive year in the Business Today List for 2021/22.

“Our market-leading export innovations, manufactured in Sri Lanka, are sought after across continents to help solve some of society’s most pressing issues. Earning the number one ranking in the Business Today Top 40 and multiple prestigious accolades at the NCE Export Awards together highlight the passion and dedication of our teams in driving economic value for society and the nation.

“Our management teams have ensured the right systems, controls and governance principles are in place to safeguard employees and our wider ecosystems amid the current economic predicament. Their agility, entrepreneurship, and innovation has ensured we meet our commitments to our customers while directly supporting the livelihoods of thousands of local smallholder farmers and out-growers, small-scale suppliers and micro-entrepreneurs,” Hayleys PLC Chairman and Chief Executive Mohan Pandithage said.

The Business Today publication cited the Group’s performance as “a testament to prudent leadership and strategizing that successfully harnessed the strengths across its multiple verticals to navigate a challenging year. Hayleys PLC is a pivotal contributor to the country’s socioeconomic progress, which is noteworthy when Sri Lanka is at its nadir in forex reserves.”

Similarly, National Chamber of Exporters (NCE) President Ravi Jayawardene appreciated the excellent services rendered by Sri Lankan exporters to support the country’s economy. “During a troublesome period with lingering issues of foreign currency, fuel and energy and many other social dilemmas, resilient exporters have performed against all odds to support the nation by bringing much-needed foreign exchange to the country.”

Hayleys Group Companies Awards List

Company	Award/s Won	Sector / Category
Haymat Ltd	Bronze Award	Coconut and Coconut Products Sector, Medium Category
Toyo Cushion Lanka Pvt Ltd	Gold Award	Coconut and Coconut Products Sector, Large Category
Hayleys Fibre PLC	Silver Award	Coconut and Coconut Products Sector, Large Category
Bonterra Limited	Silver Award	Coconut and Coconut Products Sector, Large Category
Chas P Hayley & Co Ltd	Bronze Award	Coconut and Coconut Products Sector, Extra-Large Category
Ravi Industries Ltd	Bronze Award	Coconut and Coconut Products Sector, Extra-Large Category
Rileys Ltd	Bronze Award	Coconut and Coconut Products Sector, Extra-Large Category
Rileys Ltd	Certificate on ethical trading	–
Haycarb PLC	Silver Award	Coconut and Coconut Products Sector, Extra Large Category
HJS Condiments Limited	Gold Award	Processed Food Products Sector, Extra Large Category
Quality Seed Company Pvt Ltd	Silver Award	Floriculture and Horticulture Products Sector, Medium Category
Hayleys Agro Biotech Pvt Ltd	Silver Award	Floriculture and Horticulture Products Sector, Medium Category
Dipped Products PLC	Gold Award	Rubber & Rubber Products Sector, Extra Large Category
	Special Award	Highest Foreign Exchange Earner
	Challenge Trophy	The Best Ethical Trading Exporter, Extra Large Category
Mabroc Teas Pvt Ltd	Gold Award	Tea & Tea Products Sector, Extra Large Category
Advantis Engineering	Bronze Award	Machinery and light Engineering Sector, Small Category
Advantis Freight	Bronze Award	Logistics Services Sector, Extra Large Category
Advantis Free Zone	Gold Award	Logistics Services Sector, Large Category
Alumex PLC	Gold Award	Machinery and Light Engineering Product Sector, Large Category

September 26, 2022

Alumex, Sri Lanka’s largest fully integrated aluminium profile manufacturer and a member of the Hayleys Group, launched its online portal – www.alumexstore.com for aluminium products and equipment for both residential and commercial applications with seamless delivery services across the island.

The www.alumexstore.com online portal, the first of its kind to be established by an aluminium manufacturer in the country, will provide customers the option of purchasing high-quality aluminium products online and have them delivered to their door step in Sri Lanka. Customers also have the option of picking up their purchases directly from Alumex and its regional warehouses.

“As the largest manufacturer and exporter of aluminium extrusions and products in Sri Lanka, we are pleased to launch an online platform providing a set of smart tools to help streamline and support our customers’ requirements, from rural to urban areas. With our seamless delivery system, we are geared to provide access to everyone who requires our services. Customers can now reach out directly to us for their needs through the online portal,” Alumex Managing Director Pramuk Dediwela said.

Customers can retain their accounts on-site for convenience, as their billing and delivery details will be automatically saved. Moreover, users can compare products and receive updates on special promotions, flash sales, and industry trends online.

Users also have access to multiple payment options on the website, including cash on delivery and credit/debit card payments.

Founded in 1986, Alumex PLC is a subsidiary of the Sri Lankan multinational and diversified conglomerate Hayleys Group. Alumex is a fully integrated manufacturer of aluminium profiles in Sri Lanka. Endorsed with over 35 years of industry expertise, the company develops and manufactures aluminium extrusions for an extensive suite of applications and systems such as fabrication of doors, windows, shop fronts, curtain walls and other specialised commercial applications, including globally renowned aluminium proprietary doors, windows and façade systems under license. With a wide range of architectural, residential, and industrial products made available through its national and retail distribution system, Alumex provides customers with products that are on par with the highest international standards. Alumex exports its pre-engineered products to the USA, UK, Canada, Australia, Italy, Singapore and New Zealand.

July 11, 2022

Alumex, Sri Lanka’s leading fully integrated aluminium profiles manufacturer and member of the Hayleys Group, joined the Aluminium Stewardship Initiative (ASI) as the new member of the Production and Transformation Division.

ASI is a not-for-profit standard-setting and certification organization, bringing together producers, users and stakeholders in the value chain with a commitment to maximising the contribution of aluminium to a sustainable society. As the first Sri Lankan manufacturer to have committed to the standards, Alumex will work with members to foster responsible production, sourcing and stewardship.

“As Sri Lanka’s largest manufacturer and exporter of aluminium, we are well aware of the importance of integrating sustainability in our business and manufacturing process. ASI is backed by an assurance program which will enable us to strengthen our commitment to transparency and credibility. We believe this is fundamentally important for our people and customers in Sri Lanka and our rapidly expanding export markets,” Alumex Managing Director Pramuk Dediwela said.

The ASI certification programme provides assurance for two voluntary standards: the ASI Performance Standard and the ASI Chain of Custody Standard. While the former defines environmental, social and governance principles and criteria addressing sustainability, the latter sets out the requirements for the maintenance of materials.

Notably, Alumex strengthened its commitment to sustainability by setting up an aluminium waste-collection points in selected areas. The manufacturer also upgraded its recycling facility with state-of-the-art machinery to significantly reduce its environmental footprint. Alumex’s latest facility in Sapugaskanda is capable of recycling more than 1200 metric tons of Aluminium scrap per month which can be upgraded by another 1200 metric tons, with an annual recycling capacity of 28,800 metric tons. With the commencement of its commercial operation by July 2022, this would become the largest Aluminium recycling plant in Sri Lanka with the state-of-the-art technology.

Most recently, Alumex was recognised for its strong commitment to transparency and governance at the Asia Integrated Reporting Awards. The manufacturer was honoured with the Bronze in Integrated Report (SME) category for its disclosures on value creation to stakeholders.

Since its inception in 2012, ASI has become the recognised authority in Aluminium stewardship, enabling the industry to demonstrate responsibility and provide independent, credible, and verifiable information regarding practices and improvements in ethical, social and environmental performance. ASI currently has 232 members globally and has issued 128 certifications against the ASI performance standard and 51 against the CoC standard. ASI members are operating in 47 countries throughout the world.

Founded in 1986, Alumex PLC is a subsidiary of Sri Lankan multinational and diversified conglomerate Hayleys Group. Alumex is a fully integrated manufacturer of aluminium profiles in Sri Lanka. Endorsed with over 35 years of industry expertise, the company develops and manufactures aluminium extrusions for an extensive suite of applications & systems such as fabrication of doors, windows, shop fronts, curtain walls and other specialised commercial applications, including globally renowned Aluminium Proprietary Door, Window & Façade Systems under license. With a wide range of architectural, residential and industrial products made available through its national and retail distribution system, Alumex provides customers with products on par with the highest international standards. Alumex exports its pre-engineered products to the USA, UK, Canada, Australia, and New Zealand.

May 18, 2022

Specialised training and growth opportunities provided to fabricators
Capacity building programmes organised to create awareness and enhance knowledge

Alumex, Sri Lanka’s leading fully integrated aluminium profiles manufacturer and member of the Hayleys Group, recently expanded its network of home-grown aluminium fabricators to over 15,000 with the addition of 2,000 Lumin experts.

Kick-starting the initiative over two decades ago, Alumex established a fully equipped training centre to equip local aluminium fabricators with the latest technology. In addition to improving the knowledge base of fabricators in Sri Lanka, the company continues to train technical college leavers and military fabrication units under the initiative.

“Alumex has always ensured customers have access to the best possible products. Towards achieving this goal, we have enhanced the skills of aluminium fabricators across the island, providing them with the necessary knowledge and certifications to help ensure quality across the entire domestic industry. In the process, we have also established a thriving, vibrant Lumin community.

“Having experienced increasing demand for qualified aluminium fabricators, we are expanding this community and onboarding others inspired by the industry by creating awareness and offering access to qualifications. We appreciate the community of Lumin fabricators and reward their continuous support in catering to evolving demands with exceptional service,” Alumex Managing Director Pramuk Dadiwela said.

The company trains over 2000 fabricators annually, making them up-to-date with global trends and enhancing their practical skills to carry out a commercially sustainable business.

Most recently, Alumex brought together registered Lumin experts, trained and certificated fabricators from across the island for a seminar on industry growth opportunities and will organise similar events in the months to come to ensure uninterrupted service quality to customers and support newcomers to enter and serve the market.

To ensure service quality standards are at an international level, Alumex will continuously evaluate Lumin aluminium fabricators and has organised capacity-building seminars to improve management skills, global best practices, and advanced techniques introduced to the industry.

“Aluminium fabricators undertake construction projects of varying scales and are important stakeholders in the construction industry. Over the years, this community has worked tirelessly to provide the domestic market with high-quality services for which we are truly grateful. It is this innovative and creative drive we wish to foster within the industry through our initiative,” Dadiwela commented.

Moreover, Alumex was certified as an eco-label by the Green Building Council of Sri Lanka (GBCSL) across its extensive product portfolio, setting the manufacturer as a contributor toward the Hayleys Lifecode, a comprehensive future-driven roadmap encompassing the Group’s long term sustainability goals.

Founded in 1986, Alumex PLC is a subsidiary of Sri Lankan multinational and diversified conglomerate Hayleys Group. The company has collaborated with multiple stakeholders to inculcate sustainable manufacturing practices while collaborating toward greater circularity and environmental commitments.

February 15, 2022

Cumulative Group contribution reaches Rs. 111Mn
Improved the lives of over 43,808 people across 19 rural communities through sustainable projects
Long-lasting impact through water purification, construction of fully-equipped libraries, digital classrooms and provision of essential school supplies

Iconic Sri Lankan multinational conglomerate, the Hayleys Group continued to provide vital support towards education at its adopted rural villages under the banner of its flagship social sustainability initiative, ‘Puritas Sathdiyawara Going Beyond’ for the seventh consecutive year.

The initiative was launched as ‘Puritas Sathdiyawara’ to supply clean drinking water to rural communities impacted by Chronic Kidney Disease (CKD), by establishing Reverse Osmosis (RO) water purification plants. Today, this basic life-giving initiative has extended to far-reaching sustainable community development, through investments in education, livelihood development and the establishment of fully-equipped libraries, and internet access centers under the extension of ‘Puritas Sathdiyawara Going Beyond’.

Hayleys Chairman and Chief Executive Mohan Pandithage speaking at this occasion said, “Hayleys continues to lead in Sri Lankan Corporate sphere with a flag ship business model to live by example of sustainable business practices where the social and environmental stewardship runs in parallel to its record growth in economic performance. Corporate Social Responsibility is in our DNA.”

Puritas and Haycarb Managing Director, Rajitha Kariyawasan said, “Puritas Sathdiyawara was born from an understanding of the urgent need to provide quality drinking water for communities affected by Chronic Kidney Disease (CKD) in Sri Lanka’s dry zone. The initiative was then extended to community outreach to reduce poverty, provide opportunities for quality education and work towards reducing inequalities. In that time, we are privileged to see an increase in the overall attendance, and an increased number of students being able to sit for national examinations.”

Speaking at this occasion Head of Puritas, Sharmila Ragunathan, who has sphere headed and coordinated this project with her dedicated team for all business sectors of Hayleys Group stated, “We believe that simple measures such as removing the burden of school expenses from these families are the need of the hour, and contribute towards reducing dropouts. We are fully committed to continuing this vital work to strengthen these communities, and supporting them to overcome the severe economic hardships resulting from the pandemic.

The distribution of the school essentials, launched in 2014, has today expanded to include sponsorship and collaboration from Haycarb PLC, Hayleys Advantis Limited, Hayleys PLC, Hayleys Fabric PLC, Dipped Products PLC, Hayleys Aventura, Hayleys Agriculture Holdings, Alumex PLC, Mabroc Teas and Hayleys Fibre PLC.

This year, the campaign provides essentials to over 3,500 students across 14 schools linked to Sathdiyawara communities in North Central, North and Uva provinces.2

In 2020, the ‘Puritas Sathdiyawara Going Beyond’ initiative facilitated online education for over 12 schools in partnership with DP Education, the free digital education platform dedicated to transforming teaching and learning excellence. These efforts ensured education continued uninterrupted during the lockdown period.

Hayleys subsidiary, Dipped Products PLC completed the construction of a fully-equipped library for the community in Parangiyawadiya the nineth provided to Sath Diyawara Villages under the initiative. Other than books, these libraries offer computers with internet access and free classes with the service costs borne by the community based organisations for the children in the village.

A centre piece of the Sri Lankan economy, the Hayleys Group maintains a global presence across five regions with business interests spanning 16 diverse sectors. Accounting for USD 600 million of the country’s foreign earnings and 4.2% of the nation’s total export income, Hayleys is a champion of sustainable innovation and represents one of Sri Lanka’s most prominent success stories.

October 15, 2021

Initiative to support Sri Lanka’s commitment to global Bonn Challenge
Mahaweli Authority to support project as technical partner
University of Wayamba to conduct annual assessment of conservation areas

Iconic diversified Sri Lankan conglomerate Hayleys PLC announced the successful completion of Phase I in its flagship biodiversity conservation initiative ‘Kirulu’, focused on restoring biological ecosystems and preserving natural habitats within High Conservation Value Areas (HCVAs).

The project’s first phase led by the Hayleys Plantations sector’s Talawakelle Tea Estates PLC (TTEL), a driving force of the Group’s historic biodiversity preservation agenda, is focused on ecosystem restoration and maintaining biological corridors across the hill country. Following an initial tree-planting programme of 1,000 saplings, TTEL will use GPS mapping to analyze ecosystems and ecological behavior at identified sites, and ensure the sustenance of plant nurseries and field projects while monitoring progress through frequent biodiversity assessments.

Hayleys Group CFO and Head of Group Sustainability, Choliya De Silva said: “In August 2021, the UN Report on Climate Change 2021 warned of a ‘code red for humanity’ highlighting significant environmental disruptions across the globe. A month later, the World Economic Forum called out the need for significant work to be done to reduce greenhouse gas emissions, reverse biodiversity loss and invest in renewable energy and climate financing.

“Sri Lanka is blessed with rich, vibrant ecosystems. Project Kirulu is our united, integrated commitment as a Group to leverage our business synergies and diverse network of talented sustainability representatives towards protecting these indigenous and threatened species. There is no better time to come together to shape a greener future for our nation and support global biodiversity commitments.”

The second phase of the project is set to expand biodiversity conservation to adjacent areas of importance, including rainforest reservations and waterfall ecosystems and will see more Hayleys Group companies uniting to drive momentum around conservation efforts.

As the project’s technical partner, the Mahaweli Authority of Sri Lanka will offer advisory services, while the University of Wayamba will engage its students to conduct annual biodiversity assessments of areas covered under the project.

“We are pleased to join hands with our valued partners, and nine Hayleys Group Sectors, to conserve and support our nation’s rich ecosystems. We have set an ambitious target for 2030 to enhance biodiversity in areas spanning five times the size of the area occupied by the Hayleys Group sites today, and Kirulu is one way of taking this blueprint to reality,” De Silva explained.

Notably, these biodiversity conservation efforts by Sri Lanka’s largest diversified conglomerate supports Sri Lanka’s pledge to the “Bonn Challenge” to restore 200,000 hectares of degraded and deforested land as part of a global 2030 target of 350 million hectares.

Today, biodiversity conservation forms a key part of the Hayleys Group’s ESG framework in addressing environmental sustainability. In 2020 Hayleys Plantations became the first plantations business globally to officially commit to the Science Based Targets initiative (SBTi) to reduce greenhouse gas (GHG) emissions. The Sector has established biological corridors to develop a self-sustaining model for ecosystem restoration by connecting agricultural land with natural forests.

Hayleys Fabric, the Group’s textile manufacturing pioneer, led conservation efforts by voluntarily reserving close to 9 acres of wetland and 20 acres of rubber estate adjoining its site as respective Green Belt and Wetland Biodiversity Zones under the guidance of the Central Environment Authority in the last financial year. Teams spanning the diverse world of Hayleys have also engaged in efforts to plant 44,500 saplings during the same period in partnership with community organisations and external stakeholders.

A centerpiece of the Sri Lankan economy, the Hayleys Group maintains a global presence across five regions with business interests spanning a total of 16 diverse sectors. Accounting for USD 600 million of the country’s foreign earnings and 4.2% of the nation’s total export income, Hayleys is a champion of sustainable innovation, and represents one of Sri Lanka’s most prominent success stories.

June 19, 2020

The Hayleys Group’s geographical and sectoral diversity enabled it to deliver earnings growth in an extremely challenging year, with profit-after-tax increasing by 5% y-o-y and profit attributable to equity holders growing by 40% in 2019/20. Profitability was upheld by the strong performance of the Group’s export-oriented businesses which countered the weaker performance of the sectors which were directly impacted by the Easter Sunday attacks and the COVID-19 pandemic. Hayleys’ diversified operations, which include 180 companies across 5 continents, presented challenges in finalising the interim financial statements post-COVID 19, the Group’s resilience and its ability to navigate complexities in this period is a reflection of the diversity of its earnings profile.

The Group’s turnover declined by 4% to Rs.210.31 billion in 2019/20, primarily due to the terror attacks in April 2019 as well as the COVID-19 pandemic in the latter part of the financial year. The Group’s core performance improved during the year with EBITDA and Operating Profit increasing by a respective 12% and 3%. Concerted efforts towards driving operational efficiencies and lean initiatives are reflected in the 4% reduction in Group Administrative expenses and widening of the operating profit margin to 8%, from 7% the previous year.

Consolidated finance costs remained relatively unchanged at Rs.13.05 billion during the year. Group pre-tax profit recorded an increase of 1% to Rs.5.50 billion while profit after tax grew by 5% to Rs 2.89 billion. Meanwhile, the Group recorded consistent balance sheet expansion with total assets increasing by 7% to Rs.248.31 billion as at end-March 2020.

Hayleys was one of the earliest to re-commence all of its business operations under stringent safety guidelines following the gradual easing of restrictions. The Group also launched ‘Haysmart Initiatives’ which sets out clear guidelines for cost rationalisation and exploring new opportunities, which in turn has allowed the Group to defer non-essential expenditure and preserve liquidity. Hayleys PLC, along with several Group companies also made contributions towards supporting front-line personnel, communities impacted by the pandemic.

“While disruptions to operations in the aftermath of the pandemic are anticipated to impact Group performance over the short-term, we are confident that the resilience of the export businesses will support earnings growth” said Mr. Mohan Pandithage, Chairman of Hayleys PLC. “The Purification and Hand Protection sectors are poised for expansion with strong order books while the gradual easing of restrictions in the country and the resurgence of economic activity is expected to support the recovery of the other sectors over the medium-term. I would like to place on record my sincere appreciation to all our employees, who extended their fullest support and commitment to the Group during these challenging times. I would also like to thank our customers, suppliers, business partners and other stakeholders for their continued patronage and confidence”

The Board of Directors of Hayleys PLC comprises Messrs. Mohan Pandithage (Chairman and Chief Executive), Dhammika Perera (Co-Chairman), Sarath Ganegoda, Rajitha Kariyawasan, Dr. Harsha Cabral PC, Ruwan Waidyaratne, Hisham Jamaldeen, Aravinda Perera, Jayanthi Dharmasena ,Rohan Karr and Gamini Gunaratne.

November 8, 2017

Fueled by topline growth across all of its key business segments, Hayleys PLC posted a 20% Year-on-Year (YoY) increase in turnover up to Rs. 62.4billion.

The Group has continuously infused higher levels of investment into key business segments with a view to enhancing growth potential over the medium-long term. These investments were also reflected in the Group’s net finance cost, which rose to Rs. 1.9 billion while group profit before tax for the period stood at Rs. 1.4 billion in 1HFY17/18.

In that context, Hayleys Group achieved significant benchmarks during the period in review, particularly in relation to its recent acquisition of a 61.73% of the issued share capital of Singer ( Sri Lanka) PLC for a consideration of LKR 10.9 billion, making it the single largest acquisition for a listed company in Sri Lanka in recent times. The Group raised its holding to 80.96 % subsequent to the mandatory offer concluded on 31^st October, 2017.

Commenting on the Group’s performance over the first half, Hayleys PLC Chairman and Chief Executive, Mohan Pandithage said: “The group was able to achieve several significant milestones during the first half of the financial year, driven by aggressive investments that have positioned Hayleys Group for strong top and bottom line growth moving forward. Having finalized our acquisition of Singer Sri Lanka PLC, the Hayleys Group is now moving to expand rapidly into the retail sector leveraging on the time-tested expertise of both companies.

“We are confident that the acquisition of Singer (Sri Lanka) PLC together with the recent major investments that the Hayleys Group has made into leisure and transport and logistics sectors are anticipated to yield significantly improved results for the group in the future.”

Turnover in the group’s Transportation and Logistics segment rose from Rs. 11.1 billion up to Rs. 16.4 billion while operating profits rose from Rs. 631 million up to Rs. 1.1 billion during 1H17/18.

Strong export market prices supported notable improvements in the group’s Plantation sector which recorded turnover of Rs. 6.5 billion, as compared with a previous Rs. 4.4 billion, which in turn enabled an operating profit of Rs. 216 million, as compared with a loss of Rs. 358 million in the corresponding period of the previous year.

Poor weather conditions hampered agricultural production, leading to a reduced turnover and operating profits, which ended the half at Rs. 5.5 billion, and Rs. 233 million respectively. Hayleys nevertheless maintains a positive outlook for its agriculture sector over the 2H17/18, particularly in the context of the commencement of the Maha season.

Increased raw material prices also negatively affected the group’s Hand Protection and Purification Products segments. Revenue in the Hand Protection segment stood at Rs. 8 billion while operating profits stood at Rs. 98 million. Revenue in the group’s Purification Products rose to Rs. 7.1 billion while operating profits closed the half at Rs. 358 million.

Leisure sector operating profits reduced to Rs. 36 million despite relatively stable turnover of Rs. 2.6 billion, largely

as a result of investments made towards the refurbishment of key hospitality properties within the group.

The Board of Directors of Hayleys PLC comprises Messrs. Mohan Pandithage (Chairman and Chief Executive), Dhammika Perera (Co-Chairman), Rizvi Zaheed, Sarath Ganegoda, Rajitha Kariyawasan, Dr. Harsha Cabral PC, Dr. Mahesha Ranasoma, Lalin Samarawickrama, Ruwan Waidyaratne, Hisham Jamaldeen , Aravinda Perera and Noel Joseph.

September 15, 2017

Colombo, September 15, 2017: Hayleys PLC and its subsidiaries are pleased to announce the purchase of 61.73% of shares of Singer (Sri Lanka) PLC, for a consideration of LKR 10.9 billion, making it the single largest acquisition for a listed company in Sri Lanka in recent times.

This strategic acquisition by Hayleys PLC and its subsidiaries is anticipated to yield substantial opportunities for new business synergies within the Hayleys Group. Both Hayleys PLC and Singer (Sri Lanka ) PLC collectively account for over 280 years of experience in the Sri Lankan market.

Commenting on the transaction Mr. Mohan Pandithage, Chairman and Chief Executive, Hayleys PLC stated, “This is a historic milestone for the Hayleys Group. It is in alignment with our Group’s growth-oriented approach to the Sri Lankan market, as we have been seeking a strategic partner to strengthen the Group’s retail sector. Leveraging on the diversity of the Hayleys’ products and services portfolio and combining it with the time-tested and extensive expertise of Singer Sri Lanka, we anticipate unprecedented new business opportunities for both entities moving forward.”

Elaborating further he added, “It is the vision of Hayleys to offer enhanced lifestyles to Sri Lankans, with extensive ranges of innovative, high quality lifestyle products which are affordable to all segments of society. The diversity of our products and services portfolio will now be driven to greater heights, opening doors to new business opportunities for both entities moving forward. We will leverage Singer Sri Lanka’s brand and extensive retail network, with its strong customer base to pave the way for significant upscaling of the Group’s domestic retail sector presence.

Mr. Dhammika Perera, Co-Chairman, Hayleys PLC, stated, “This acquisition is no doubt the biggest in Sri Lanka. Given the strength of Singer Sri Lanka, one of the most iconic and trusted retail brands in the country, we believe that with this move, the Hayleys Group will be able to leverage and amalgamate the expertise and know-how of two corporate giants and boost the Group’s growth trajectory.”

Hayleys, the largest Sri Lankan conglomerate nearing its 140^th year, has a global presence in 15 countries across all 5 continents. It is the most diversified conglomerate in the country. This acquisition creates a total of 16 Public Listed Companies under the Hayleys Group umbrella.

Established in 1878, Hayleys PLC is one of Sri Lanka’s largest, multinational business conglomerates driving a globally competitive business portfolio cutting across manufacturing, agriculture and services. The Group is internationally recognized as a leader in innovation and currently operates manufacturing and service facilities in Sri Lanka, Indonesia, Myanmar, Maldives, Thailand, Bangladesh and Singapore. Its Marketing facilities are located in Australia, India, Malaysia, Italy, Japan, The Netherlands, UK and USA. The Group accounts for approximately 3.53% of Sri Lanka’s export income, and 3.4% of tea and 3.8% of rubber production. It is one of the leading foreign exchange earners of the country, and sources 95% of its raw material manufacturing requirement locally, while providing employment to over 28,000 employees.

The Board of Directors of Hayleys PLC comprises Messrs Mohan Pandithage (Chairman and Chief Executive), Dhammika Perera (Co-Chairman), Rizvi Zaheed, Sarath Ganegoda, Rajitha Kariyawasan, Dr. Harsha Cabral PC, Dr. Mahesha Ranasoma, Lalin Samarawickrama, Ruwan Waidyaratne, Hisham Jamaldeen , Aravinda Perera and Noel Joseph.

Newer Posts

Hayleys Group companies honoured for export innovations and nation-mindedness

Alumex launches an official online portal and seamless delivery service for customer convenience

Alumex first in Sri Lanka to commit to Aluminium Stewardship Initiative for sustainable society

Alumex grows Lumin fabricators network to 15,000

‘Puritas Sathdiyawara’ continues to empower its adopted villages with educational care packs for 7th consecutive year

Hayleys Group launches flagship project ‘Kirulu’ to lead biodiversity conservation efforts

Hayleys Group delivers profit growth in a challenging year

Hayleys turnover up by 20% YOY to Rs. 62.4 billion in 1HFY17/18

Hayleys Group in historic acquisition of Singer (Sri Lanka) PLC for Rs. 10.9 billion