Lankem Ceylon PLC, which has interests in chemicals, paints, agri-inputs, consumer, packaging and leisure sectors said, it bought a company engaged in the business injection moulding, a manufacturing technology used to make a wide range of plastic products.
Accordingly, the acquisition of Alliance Five (Pvt) Limited was carried out through Lankem Ceylon’s fully owned subsidiary J.F. Packaging (Pvt) Limited for Rs.150 million.
Lankem Ceylon fully acquired J.F. Packaging this April by purchasing the balance 27.5 percent stake in the company for Rs.320 million.