Haycarb PLC is exploring a more proactive presence in other manufacturing markets such as India, Thailand, Indonesia, according to senior company officials. “We are planning to set up a manufacturing plant in India,” Ananda Hettiarachchi, Managing Director Haycarb told the Sunday Times FT.
He said the company plans to expand the capacity at their plant in Indonesia while in Thailand they will expand their plant in terms of processes. “Placing our own manufacturing facilities in countries with reasonable supplies of charcoal will raise our own competitiveness. Importantly, this is an effective mitigatory option in our current high cost environment in Sri Lanka. We see opportunity in being close to countries with a substantial local market, such as Thailand, Indonesia and India where costs are escalating but there is very sizeable local market,” he said.
Mr. Hettiarachchi noted that the whole idea of Haycarb having a manufacturing operation in place in those countries where growth is taking place makes great business sense, and is a course the company is actively pursuing.
The company recorded a turnover of Rs. 4.5 million and profit after tax of Rs. 279 million, which reflects a growth of 8% and 23% respectively, over the previous year.
He said that the USA has enacted legislation concerning the removal of mercury vapour from flue gas streams emanating from the country's coal power plants and that Haycarb is gearing for this demand for activated carbon.
“We are also seeing increased public spending by the US and other governments as a means of mitigating the recession.
This mean infrastructural renewal and development, which in turn means that countries are likely to seek to upgrade key infrastructure facilities such as water systems, effluent treatment systems among others – which will create demand for activated carbon,” he said, adding that if Haycarb manages this situation well, it will be enjoying increased sale into other markets as well. |
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