Sri Lanka’s E.B Creasy acquires Lanka Special Steels ltd

Apr 01, 2015 (LBO) – Sri Lanka’s E.B Creasy has acquired full stake of Lanka Special Steels ltd on Tuesday, the company said in a stock exchange filing.

E.B Creasy which has interests in logistics and manufacturing has purchased 2.5 million ordinary shares of Lanka Special Steels ltd from Tata Steel ltd for 433 million rupees.

Lanka Special Steels ltd is engaged in the business of manufacturing and supplying of hot dip galvanized steel wires with an installed capacity of 14,400 metric tons per annum.

The company has an annual turnover of 1,400 million rupees for the current financial year, the statment further said.