Mar 25, 2011 (LBO) – Laugfs Eco Sri, a unit of Sri Lanka’s listed Laugfs gas which tests vehicle emissions for the government, says it is expanding in to the north and the east of the country and is also mulling an initial public offer. Laugfs group chief W K H Wegapitiya said the firm has still not decided how much of the firm would be offered to the public.
“But we hope to go for the public within few months,” he said.
Laugfs Eco Sri chief executive U U Navarathne said the company will expand vehicle testing services to the war torn north and east of the island.
“Initially we are planning to invest 150 million rupees in each province and start three vehicle emission testing centers and one mobile center in each in these provinces, Navarathne told reporters.
“But for the Northern Province we are still waiting for the government final approval.”
Laugfs Eco Sri now has 100 vehicle emission testing centers and 18 mobile centers in the rest of the country. Navarathne says it has a 50 to 60 to market share.