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Hemas Holdings to acquire stationery manufacturer Atlas

atlas-lk

Jan 19, 2018 (LBO) – Hemas Holdings has entered into an agreement to acquire 75.
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1 percent stake of Sri Lanka's leading stationery manufacturer Atlas for 5.7 billion rupees. Hemas said in a statement that the acquisition of Atlas will increase the group's presence in the fast-moving consumer goods space.
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“Atlas will become the third largest business in HHL and will operate as a subsidiary of Hemas Holdings,” the company said.


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“HHL aims to continue to drive Attas' excellent track record of sales growth, and strengthen its market leading position, highly effective lean manufacturing and enviable dividend track record.
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” Atlas Axillia Ltd formerly known as Ceylon Pencil Company, founded in 1959, currently employs 1,300 people and operates two production facilities in Peliyagoda and Kerawalapitiya.
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