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Thu, 21 August 2014 21:08:02
Sri Lanka's Royal Ceramics gains control of tile industry
06 May, 2013 11:41:06
May 06, 2013 (LBO) - Sri Lanka's Royal Ceramics Plc, a unit of Sri Lanka's Vallibel group has bought control of Lanka Ceramics group 2.9 billion rupees, group chief Dhammika Perera said.
A controlling 79 percent stake in Lanka Ceramic and four subsidiaries which included Horana Plantations was bought for 2.9 billion rupees, Perera said.

With Lanka Ceramic units Lanka Tiles and Lanka Walltiles under its umbrella the Royal Ceramics group now have a monopoly in the tile market, he said.

Horana Plantations also went with other related companies such as Talawakele Plantations, he said.

About 24.6 million shares of Lanka Ceramics stock traded at 120 rupees up share, up 40 rupees from a day in a series of off-market deals Monday.

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READER COMMENT(S)
2. adam May 07
Government should now look to reduce the import tax for tile industry.. otherwise such monopolies will rob consumer choice and have super-normal profits...

I guess treasury officials dont understand this sort of economics..

1. SLS May 06
In the Developped world, this sort of activities draw anti trust action from market regulators.
In the Miracle such activities are the norm for those who matter :)
Just wonder if there is any laws against monopolistic practices, (even though the laws dont matter)!