Royal Ceramics amalgamates with tile-making subsidiary

Sri Lanka’s tile and bathware market leader Royal Ceramics Lanka PLC yesterday announced the amalgamation of Royal Porcelain (Pvt.) Ltd, a fully-owned subsidiary of 
the firm.

Following the amalgamation, Royal Ceramics Lanka PLC would continue as the amalgamated company, a stock market filing said. Royal Porcelain has its manufacturing plant in Horana and produces glazed floor and wall tiles in the porcelain, vitrified and ceramic categories for the Rocell brand. The plant has a capacity of 11,000 m2 per day. “The board of Royal Ceramics Lanka PLC is of the view that the amalgamation is in the best interest of the company and its subsidiary, Royal Porcelain (Pvt.) Ltd,” the filing said. The amalgamation is to take effect on a day not less than 20 working days from the date of publication of the notice of the proposed amalgamation in the government gazette and newspaper, pursuant to the two companies filing with the Registrar of Companies, the documents required to be filed in terms of the Companies Act.

Royal Ceramics said a further announcement would be made upon the issue of certificate of amalgamation.