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Laugfs celebrates two decades of trust and excellence

2015-08-24 03:25:10
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Laugfs Holdings Limited, one of the diversified business conglomerates in Sri Lanka, celebrates a remarkable journey, completing 20 years of excellence and trust that are firmly etched in the hearts of Sri Lankans. 

Beginning its journey in 1995 through the entrepreneurial vision of its founders W. K.H. Wegapitiya and U. K. Thilak De Silva, Laugfs today has expanded across more than 18 industries, establishing a strong presence in the power and energy, retail, industrial, services, leisure and the real estate sectors in the country. 

The total annual turnover of the Laugfs companies today exceeds Rs.28 billion and its dynamic team consists of over 4000 employees from across Sri Lanka and beyond. 

“At Laugfs, our drive and passion from the outset has been to build a home-grown business that embodies a truly Sri-Lankan identity. In just twenty years, we have built a legacy through this vision, one that will continue to grow as we dream bigger and broaden our territory beyond our present horizons,” said Wegapitiya - Chairman of Laugfs Holdings.
 
U. K. Thilak De Silva – Group Managing Director of Laugfs Holdings also stated, “LAUGFS has certainly carved itself a niche in Sri Lanka, not only with its diversified business interests but also through the people we engage with. From the everyday goods and services offered to our consumers, to the value we deliver to our stakeholders, our philosophy is one of no compromise in all our operations. It is this that has earned us the respect and recognition, right from our modest beginnings, to the conglomerate we are today, as we continue to deliver value in every aspect.”

Laugfs has continuously demonstrated its pioneering spirit since its inception in 1995 when it revolutionized the energy sector through Gas Auto Lanka, exploring auto gas conversion as a cost effective and more environmentally sound approach to automotive energy. In 2000, Laugfs introduced 24hr supermarket retailing to Sri Lanka, stepping into the Consumer Food Retail industry for the first time.  

The years 2001 to 2005 saw Laugfs branch out into a variety of business areas including LP Gas, Petroleum retailing, Engineering and Real Estate & Property sectors. The Company’s first gas carrier - Laugfs Wega – was also registered under the flag of Sri Lanka during this period. 

The years that followed saw Laugfs’ rise to fame, with its Founder and Chairman, Wegapitiya being recognized time and again for excellence in leadership and entrepreneurship. LAUGFS companies have been further recognized in numerous forums with many awards and accolades including the prestigious National Quality Award, the National Business Excellence Award, and the Best Corporate Citizen Sustainability Award.

The last decade too was an epoch of further expansion and diversification as Laugfs entered the food retailing sector through a chain of restaurants under the brand name Jade, whilst moving into industrial solid tyre manufacturing with a state-of-the-art manufacturing facility. 

During this period it also embarked on an ambitious emission testing facility while introducing Sri Lanka’s first local lubricants brand under ‘Laugfs oil’, along with several other FMCG brands including SunUp Ceylon Tea. The year 2010 marked another significant milestone when Laugfs Gas went public with an IPO drawing an unprecedented response. 

The Company entered the higher education sector in 2011 with its own ‘corporate campus’ – LAHES. In 2014 LAUGFS stepped into the leisure and maritime services sector, opening its first luxury beach resort, under the brand ‘Anantaya’ and acquiring the LP Gas vessel – MT Gas Challenger. The year 2014 also saw the commissioning of the Company’s first hydro power plant, supplying electricity to the national grid. 

With exciting, new terrain ahead and countless avenues open to pursue, the pioneering spirit of Laugfs lives on, winning the trust of millions and becoming a source of inspiration for many young local entrepreneurs. As business interests broaden into regional and global markets, the future is set to carry forward the legacy of Laugfs well beyond national borders. This remarkable journey of a truly Sri Lankan company continues as it grows from strength to strength, two decade past and many more ahead.


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