Ceylon Steel Corporation Limited (LANWA), in a landmark move, announced the acquisition of a 9.99% share in Hatton National Bank PLC (HNB), which was held by Brown’s Investments PLC, making LANWA the single largest shareholder in the Bank.
This underscores the visionary leadership of UAE-based Sri Lankan business personality and industrialist, Nandana Lokuwithana, who purchased the steel giant in 2009, investing heavily to resurrect and develop the LANWA brand to its leadership position in the steel industry today.
Lokuwithana is renowned for his diversified portfolio of business interests ranging from strategic investments in United Arab Emirates, USA, Europe and Sri Lanka in a number of key business verticals covering hospitality, construction, real estate, steel, cement and tyres.
Reliable sources at the Colombo Stock Exchange said that the purchase by LANWA was one of the largest transactions in recent memory.
Following the rebirth of the historic LANWA brand, the company diversified into the cement industry in 2018 with the establishment of the largest, state-of-the-art purpose-built cement manufacturing plant in Sri Lanka, being established in Hambantota.
Other verticals in Sri Lanka include the launch of Ferentino Tyre Corporation (Private) Limited in 2017, in Horana, an active BOI-venture with exports to Europe, the USA and South America, in addition to an islandwide sales network in Sri Lanka.
Growing from strength-to-strength, the Lanwa Group continues to its upward trajectory as a leading business conglomerate in Sri Lanka, continuing to diversify its operations in key growth sectors in the country.
