Dec 11, 2007 (LBO) – Ceylon Glass Company (CGC) has begun production at its new plant in Horana, south of the capital Colombo, which can meet Sri Lanka’s entire demand for glass containers and export as well. Ceylon Glass chief executive Sanjay Tiwari said the second production line would start next week and that they would initially have four manufacturing lines in operation by the year-end, producing 205 tonnes a day.
The fifth and final production line will be commissioned during the first quarter of 2008-09 financial year, raising total capacity to 250 tonnes a day, with the ability to make flint, amber and coloured bottles ranging in size from 50 ml to 2.5 litres.
The sole listed glass maker on the Colombo bourse has said sales during the first half of this financial year were up by 15 percent to 973 million Sri Lankan rupees while net profit was up by 22 percent to 88 million Sri Lankan rupees.
The company’s performance in the second quarter showed a growth of 20 percent in sales with net profit growing by 29 percent against the same quarter of the previous year.
Tiwari told the ceremonial opening of the new plant Monday that the company was already producing more than 150 varieties