24 May 2017 10:22 am
C M Holdings PLC subsidiary, Colonial Motors (Ceylon) Limited, will begin importing and distributing Italian auto maker Piaggio’s iconic scooter Vespa and the Aprilia 2-wheelers, a disclosure to the Colombo Stock Exchange stated.
Colonial Motors entered into a distribution agreement with Piaggio’s fully-owned Indian subsidiary Piaggio Vehicles (Pvt) Limited last month to import and distribute Vespa and Aprilia products in Sri Lanka.
Colonial Motors is also the authorized distributor for Mazda vehicles in Sri Lanka and Maldives.
The Colombo Fort Land & Building PLC holds 63.49 percent of the shares in C M Holdings, while Sri Lanka Insurance Corporation holds 2.58 percent of shares in the firm.