Business Times

Pelwatte milk foods to enter the market shortly

Pelwatte Dairy Industries Ltd (PDIL), a subsidiary of Pelwatte Sugar Industries PLC (PSIPLC), plans to launch its milk powder production soon. Machinery imported from Denmark has been installed at the milk powder plant for this purpose. “We are in the process of completing the milk powder plant”, Chairman of the company Ariyaseela Wickremanayake told the Business Times, adding that Pelwatte milk foods will enter the local market shortly.

Pelwatte Dairy Industries Ltd. has invested Rs.1.8 billion on the state-of-the-art dairy processing plant and animal feed production factory in the Monaragala District. Liquid milk for this factory is being collected from the districts of Monaragala and Ampara amounting to 150,000 litres per day. The factory currently produces yoghurt and ice cream. "Around 25,000 farmers work directly at the dairy factory in Pelawatte while 40,000 persons indirectly benefited by the project," he added.

Mr. Wickremanayake revealed that the company will launch an Rs.450 million Initial Public Offer (IPO) at the end of this month or in the first week of February. He said that 20% of the company stock would be offered to the public.

Meanwhile production at Pelwatte Sugar Factory, the largest sugar factory in Sri Lanka, has come down from 42,000 tons in 2009 to 29,000 tons in 2010 due to bad weather conditions. However the factory is functioning smoothly under Pelwatte Sugar Industries PLC (PSIPLC) without any industrial disputes or worker unrest, said Mr. Wickremanayake. He denied allegations from the Inter Company Employees Union which claimed that the wages of the employees and the vehicle owners who supplied transport facilities as well as the farmers who supplied sugar cane to the factory were not paid properly. All the payments were made and there was no worker dispute at the factory, he said.

The company cultivates sugarcane under rain-fed conditions, and produces sugar and other byproducts from the raw cane. PSIPLC's subsidiary, Pelwatte Sugar Distilleries (Pvt) Limited, produces potable and technical alcohol utilizing molasses, a byproduct of the sugar factory.

Top to the page  |  E-mail  |  views[1]
SocialTwist Tell-a-Friend
Other Business Times Articles
Dollar seen weakening to Rs 106-108 in 2011
Erroneous New Year lottery incurs heavy loss for NLB
No big names for Kalpitiya, Govt. may issue fresh bids
Seylan Bank’s top three officials resign
Grand Oriental Hotel deal in fizzled out mode
Order reserved in oil hedging arbitration
Comment - Roadmap to prosperity
Feature - US GSP for over 130 countries expires, likely to re-start in next few months
Feature - Crisis in coconut: Long term perspective for development of coconut needed
20,000 MFIs to be regulated under Micro- Finance regulations: CB Governor
Indian experts to share insights at ICASL workshop
Laugfs to offer non Acetylene metal cutting gas
Coca Cola gives permanent jobs to 25 top salesmen
City tour for tourists
Central Bank predicts 8-9% economic growth for Sri Lanka
Budget and the Deemed Dividend Tax
Overseas employment prog. should be pro-active: NWC
Markss Healthcare helps in courses to educate ‘budding’ surgeons
Communications’ specialists to share expertise at Feb. 3 seminar
No control over share price movements : PCH
New MD at Ceylon Tobacco Company
SLASSCOM elects new board for 2011
Efutures provides support services to Wall Street firms
ODEL builds 20 houses to mark 20th anniversary
Pelwatte milk foods to enter the market shortly
East coast - hot destination for heli flights
Aitken Spence Printing at Galle Literary Festival
ICASL to introduce new ICT enabled products to its students and members
20 mln shares on offer in Marawila rights issue
Former Nestle SL MD to head Kotmale
‘SURE’ rewards from Seylan Bank to all customers
Emirates sponsors popular authors to Galle Literary Festival
CB Governor on ITN's "Rupees and Sense"
Colombo bourse half day on Jan. 14
SLIC pays Harry’s DCSL Rs. 6.7 bln as per SC order
HVA set to consolidate HELADIV brand through IPO
Lankan PR firm launches website
Ray of hope for GK depositors under new payment proposals
New port city being built at $450 mln cost
Commercial Bank reaches milestone 400th ATM
Proposed 5-day week for those seeking flexible working hours: EFC
Mobitel reached 3.8 million subscribers by Nov. 2010
Tea prices, production and exports seen strong in 2011: Forbes report
SEC may revisit price band
Lanka Bell may not be sold
Sri Lanka rubber prices seen rising
Oman Air CEO speaks on in-flight entertainment
Sri Lanka is next Asian economic miracle :ex-Pakistan bureaucrat


Reproduction of articles permitted when used without any alterations to contents and a link to the source page.
© Copyright 1996 - 2011 | Wijeya Newspapers Ltd.Colombo. Sri Lanka. All Rights Reserved | Site best viewed in IE ver 8.0 @ 1024 x 768 resolution