Categories: Business

Hayleys Advantis buys Sri Lanka Shipping Company for Rs4.9 bln

Hayleys Advantis Limited, a subsidiary of Hayleys PLC, has acquired 94.81 percent equity stake of Sri Lanka Shipping Company Limited for a purchase price of 4.9 billion rupees.

The group said in a stock exchange filing that the transaction was carried out on 23rd August 2017.

“This acquisition is in line with the Group’s strategy on expanding its maritime operations,” Hayleys said.

“It paves the way for the establishment of the largest marine and shipping Company in Sri Lanka.”

Last month, Hayleys Advantis said they will construct a Mega Distribution Center (DC) in Kotugoda with an 3.2 billion rupee investment for the first phase.

The move is part of the company’s expansion strategy with emphasis on consolidating operations for greater efficiency.

Advantis has over a decade of experience in managing warehousing and distribution facilitates for both large and small clients through its brand Advantis 3PL Plus.

With over six decades of experience in the transportation and logistics industry in Sri Lanka, Hayleys Advantis is on an aggressive drive to expand its presence in the Asian region, already covering 10 countries.

Backed by the diversified blue-chip conglomerate Hayleys PLC, the company provides integrated logistics services through its wide network of offices across the region.

AddThis Website Tools
Lankanewspapers

Recent Posts

LNP – AKD off to Germany tomorrow

LNP – AKD off to Germany tomorrow

President Anura Kumara Disanayake will undertake an official visit to the Federal Republic of Germany…

2 hours ago
LNP – Five Jewish Rabbis performing Kosher chicken processing on visit visa arrested by Immigration Dept

LNP – Five Jewish Rabbis performing Kosher chicken processing on visit visa arrested by Immigration Dept

Five Jewish Rabbis, including three Israelis who were performing Kosher on the poultry products of…

3 hours ago
LNP – SriLankan Airlines plans to fly from turbulence to clear skies

LNP – SriLankan Airlines plans to fly from turbulence to clear skies

In its plan for increasing the fleet to 25, SriLankan Airlines, the national carrier, is…

3 hours ago

LNP – Suspended Commissioner General of Prisons arrested

The Commissioner General of Prisons Thushara Upuldeniya, who was suspended from duty today (09), has…

14 hours ago

LNP – Mahindananda’s lawyers file appeal over prison sentence

Former Minister Mahindananda Aluthgamage’s lawyers have filed an appeal before the Supreme Court against the…

20 hours ago

LNP – Wife of former State Minister arrested over Rs. 700 Mn tax evasion

Kushani Nanayakkara, a businesswoman and the wife of former State Minister Dunesh Gankanda, has been…

1 day ago