Diesel and Motor Engineering Compnay (DIMO), with its state-of-the-art water management solutions and specialized expertise, is planning to provide tailor-made clean water solution for the North and East areas as the state invests in its redevelopment, according to senior company officials.
“We are optimistic about the opportunities that will unfold in these areas and DIMO has already begun to develop business models to exploit these opportunities. The government has plans for the development of the social and economic infrastructure of these areas and DIMO hopes to be an active player in the implementation of those plans,” Ranjith Pandithage, Chairman of the company said in the annual report.
He noted the company's diversification into other areas such as power engineering, building technologies, power systems and agriculture and water management systems has helped DIMO to cope with the drop in automobile sales.
DIMO’s sales of automobiles, took a sharp dip last year to Rs 89.4 million against the Rs 205 million recorded the year before.
Mr. Pandithage said that both global and local factors attributed to this dip. “According to the Registrar of Motor Vehicles, only 265, 199 vehicles were registered last year – a drop of 11% from the previous year. The leasing industry changed its requirements by asking customers to make large down payments and this also had a negative impact on the sales of cars, trucks and other vehicles,” he said, adding that some of DIMO’s main customers who hail from the tea, rubber and apparel industries have been badly affected by the global meltdown and as a result, postponed many of their capital expenditure purchases.
He said these decisions had a negative impact on DIMO's bottom line. “While our core business in the form of vehicle sales has taken a dip because of the global recession, the company has been fortunate that the other sectors have done well and this enabled us to post a satisfactory year, despite the volatilities of local and global markets,” he noted. |
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