Category: Apparel

Oct 08, 2009 (LBO) – Sri Lanka’s Hemas Power hit a high of 28 rupees when it began trading Thursday, but ended at 24 rupees, 20 percent up on its issue price of 20 rupees, brokers and analysts said. The share opened at 26 rupees, a 30 percent gain on its issue price, and traded […]

Oct 08, 2009 (LBO) – Sri Lanka’s state-run power utility has given the nod for 50 MegaWatts of wind power to be developed by five parties in the north-western Puttalam area of the island, an official said.Sri Lanka’s government has declared a policy of generating 10 percent of the country’s power needs from renewable sources […]

Sept 24, 2009 (LBO) – Sri Lanka’s Hayleys group said it has increased control of its fabric manufacturing unit, Hayleys-MGT Knitting Mills, after a mandatory offer to buy up shares of other shareholders. The firm said earlier that independent advice provided by Merchant Bank of Sri Lanka on the mandatory offer has found the price […]

Sept 02, 2009 (LBO) – A big Sri Lankan apparel exporter has set up a new factory in the east after it was cleared of Tamil Tiger rebels, saying its main baby wear product has not been affected by the slump in demand caused by recession.Kumar Dewapura, chairman of Tristar Apparel Exports, said the 50,000 […]

Aug 20, 2009 (LBO) – Textured Jersey Lanka (TJL), a joint venture between Pacific Textiles and Sri Lankan apparel export group Brandix, said it plans to produce fleece fabric for Victoria’s Secret Pink loungewear brand. The firm also has wide-ranging finishing capabilities such as encapsulation, moisture management, seeding and other customized finishes, the statement said. […]

June 16, 2009 (LBO) – Brandix, a top Sri Lankan apparel maker, is planning to boost production at a factory built in Batticaloa, a former war-torn area in the east of the island where ex-female Tiger combatants are also working, an official said.“Our current production is 20,000 pieces and we want to push it up […]

May 15, 2009 (LBO) – Sri Lanka’s Hayleys MGT Knitting Mills said net profit slumped 45 percent to 3.2 million US dollars in the 2008-09 financial year from a year ago as orders and profit margins fell. The firm, the cotton and synthetic fabric manufacturing unit of the Hayeys group, said in a statement that […]

May 11, 09 (LBO) – Sri Lankan apparel exports are slowing as demand slumps with recession but a weaker rupee and continuing duty free access to Europe enable exporters to remain competitive, a senior official said.Rohan Masakorala, secretary general of the Joint Apparel Association Forum, an industry body, said the industry would have been in […]

April 03, 2009 (LBO) – Lanka Salusala, a partly operational Sri Lankan state textile firm which is overstaffed and debt ridden, is to be closed down and re-started as a new business entity. Textile development minister Mahinda Rathnathilaka said the firm will be revived as there are many legal issues relating to its liquidation. “We […]

Feb 23, 2009 (LBO) – Sri Lanka has unveiled an export incentive program based on maintaining revenues and employment, while emerging data shows contracting nominal values with manufacturers planning to trim workforces. Sri Lanka’s government is giving a 5 percent incentive payment in domestic currency to any exporter who can show 5.0 percent more export […]

Jan 27, 2009 (LBO) – Sri Lankan apparel exporters said they are considering expanding into the former war-zone in the island’s north and east from where Tamil Tigers have been driven out.Ajith Dias, chairman of the Joint Apparel Association Forum, an industry umbrella body, said the government is trying to encourage apparel companies to set […]

Jan 23, 2009 (LBO) – Sri Lankan apparel exporters are looking for new markets like India, China and Japan as demand slows down in established markets where recession has begun to bite, an industry official said. Ajith Dias, chairman, Joint Apparel Association Forum, said they want to market high value garments in India with a […]