Lankem Ceylon acquires injection moulding firm for Rs150mn

LANKEM

May 26, 2017 (LBO) – JF Packaging Private Limited, a fully owned subsidiary of Lankem Ceylon, has acquired a firm engaged in the business of injection moulding.

Lankem Ceylon said in a stock exchange filing that the acquisition of 100 percent stake in Alliance Five Private Limited took place Wednesday for 150 million rupees.

Earlier this month, JF Packaging acquired Kiffs private limited, which is engaging in the business of manufacturing and distribution of PET Bottles, for 225 million rupees.

Lankem Ceylon acquired 72.5 percent of JF Packaging private limited in January 2015 and acquired the balance stake last month.