29 April 2023 12:00 am
LAUGFS Holdings Limited recently ventured into the international market to expand its service offering to the Maldives, as part of the LAUGFS Strategic plan to enter new international markets.
LAUGFS Holdings Limited is one of Sri Lanka’s largest diversified conglomerates with a portfolio of over 20 businesses, spanning multiple industries and the only Sri Lankan company with its own lubricant blending licence under LAUGFS Lubricants, a brand known locally and internationally.
The signing was attended by LAUGFS Lubricants representatives: Cluster Director/CEO Dr. Niroshan J. Pieries, General Manager Operations Samantha Herath, International Market Development Manager Pradeepan Sivarajah and Mechanism Maldives (Pvt.) Ltd representatives: Managing Director Adam Ali and Director Tremayne Pereira.
Dr. Pieries at the signing noted, “We are pleased to partner with Mechanism Maldives (Pvt.) Ltd, as they share in our vision and values to provide excellence in service and product for all our users. As we enter the Maldivian market, we are confident in our ability to meet the ever-growing market needs of the times and to strengthen the LAUGFS foothold in Asia further as the only Sri Lankan brand.”
With the 2008 establishment of LAUGFS Lubricants Limited, a wholly-owned subsidiary of LAUGFS Holdings, the brand is reinforced by the parent company’s strong reputation, which has helped it win over key influencers and end users by building trust, credibility and honesty. The expansion to the Maldives is the second international expansion for LAUGFS Lubricants, after its initial expansion to Bangladesh.
Mechanism Maldives (Pvt.) Ltd is widely regarded for its manufacturing, supply, servicing and commissioning of RO desalination plants and wastewater treatment plants, supply and installation of generators, supply and assembly of storage tanks, design and installation of total MEP works in resorts and hotels and the construction of pools and installation of pool equipment and water heaters.
Commenting on the new partnership, Ali stated, “We are glad to partner with LAUGFS Lubricants Ltd and are excited to grow the business together. Providing products of this calibre to local markets in the Maldives will allow us to meet the growing market gap, creating greater opportunities for business and international growth.”