Shirajiv Sirimane
Chemanex Group of Companies a subsidiary of CIC is looking at relocating from Ratmalana to a more economically viable factory in Homagama.
This matter is being constantly pressured by their share holders who propose to sell the Ratmalana property to a neighbouring company dealing in motor vehicles and relocate.
“We say that the Ratmalana property could fetch around Rs. 2.5 billion and the whole facility could be relocated and be up and running for less than 45% of the sale value in Homagama where CIC has a land,” a share holder said.
“We will once again bring this up at our annual general meeting that is scheduled in a few weeks,”he added.
There was also speculation that the CIC may completely sell Chemanex and shut down the plant.
www.dailynews.lk
Chemanex Group of Companies a subsidiary of CIC is looking at relocating from Ratmalana to a more economically viable factory in Homagama.
This matter is being constantly pressured by their share holders who propose to sell the Ratmalana property to a neighbouring company dealing in motor vehicles and relocate.
“We say that the Ratmalana property could fetch around Rs. 2.5 billion and the whole facility could be relocated and be up and running for less than 45% of the sale value in Homagama where CIC has a land,” a share holder said.
“We will once again bring this up at our annual general meeting that is scheduled in a few weeks,”he added.
There was also speculation that the CIC may completely sell Chemanex and shut down the plant.
www.dailynews.lk
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