Laugfs lubricant products in the market soon
Laugfs lubricant products will be in the local market shortly. The
licence has been given to Laugfs Holdings Ltd to enter the lubricant
While the multi-national lubricant companies pointed out that there
is no space for another lubricant producer in the Sri Lankan market,
Laugfs said there was plenty of room for competitive companies in the
lubricant market in Sri Lanka.
Chairman of Laugfs Holdings Ltd W. K. H. Wegapitiya said that his
company has already made arrangements to produce high quality
international standard lubricant products.
Laugfs is the unofficial third player in the energy sector in Sri
Lanka with 21 fuel stations. We will have the only local modern
lubricant blending plant in Sri Lanka backed by two energy giants who
are world renowned. They give us modern technical knowledge and
assistance, he said.
Having commenced operations in 1995 switching from gas to fuel car
convertor, Laugfs enters a new chapter by producing and marketing
lubricant products in Sri Lanka. It will be another landmark in its
march to progress.
Wegapitiya, a business management graduate, broke the gas monopoly in
Sri Lanka eleven years ago commencing his novel venture Laugfs Gas Lanka
Ltd. At present Laugfs Gas enjoys 40 per cent market share of the local
gas market having a well established islandwide gas supply network.
According to the chairman his company is under a diversification
program venturing into the leisure industry opening a fifty roomed
upmarket holiday resort, a chain of Chinese restaurants and rubber based
industry are the latest business ventures to be launched recently.
Wegapitiya said the holiday resort will be a "boutique Hotel"
specially designed for the European and East European upmarket tourists.
It will be built at Chilaw.
Explaining the future market strategy the chairman said that the
diversification is an attempt to reduce market risks. Diversification is
a must for a strong financial future, he said.
"We bought two rubber factories in Horana - Millawa from the
government. We have started to manufacture high quality mattresses for
Germany and the local market. Laugfs Petals rubberised coir mattresses
were introduced to the local market recently. High quality genuine
rubberised coir products have a high demand locally and abroad, he said.
The Chinese restaurant Chain - Jade will be included in the Laugfs
supermarkets which have been expanding vigorously due to consumer
demand. The first Jade restaurant was opened at the Laugfs supermarket
at Mirihana with a seven-million-rupee investment. The Maharagama Jade
will be the next to be opened within a few weeks, he said.