Alumex buys Rs. 420 m land for production capacity expansion

Alumex Plc has bought over six acres of land in Ja-Ela for Rs. 420 million for further expansion of its production capacity.

The land had been bought from related party Hayleys Fibre Plc as an arms’ length transaction on normal commercial terms. The property had been independently valued by chartered valuation surveyor P.B. Kalugalagedera.

The Alumex head office and factory premises are located at Pattiwila Road, Sapugaskanda, Makola. 

Alumex has expanded manufacturing facilities to include melting and casting, die manufacturing, extruding and surface finishing of profiles, to produce mill finished, anodised, powder coated and wood effect Aluminium profiles, for industries and architectural use and such profiles are marketed under two brands - Alumex and Lumin. 

Alumex is an ISO 9001:2008 certified company and is recognised globally for consistent quality of production to international standards. As a result, Alumex has been selected by international brand names for outsourced manufacturing of Aluminium window and door system profiles in the Alumex plant in Sri Lanka, under license and awarded contracts by AluK of Italy, Fletcher Aluminium of New Zealand and Reynaers Aluminium NV of Belgium. 

Alumex is the only approved applicator for the international powder brands of JOTUN, DGL and Akzo Nobel for their high-end material.

Alumex successfully concluded testing eight of its own façade or curtain wall, window and door systems by an accredited testing lab in Dubai and obtained United Kingdom Accreditation Service’s certification (UKAS) in the financial year 2015/16.

The group recorded a turnover of Rs. 3.99 billion, a noteworthy growth of 21% compared to the previous year. Profit before tax was Rs. 801 million, recording an increase of 31% and Profit after tax was Rs. 589 million compared to Rs. 477 million in the previous year.

The company has said it expects the demand for aluminium profiles to remain strong with double digit growth in the next few years. Based on the projected demand, its strategies for the next few years include marketing the LUMIN product with a presence in all provinces of Sri Lanka by setting up LUMIN Concept Centres in a major city in each of these provinces. The range too will be broadened with new innovative products to give customers more options to choose from. 

In manufacturing, plans are in place to enhance capacity as well as increase existing capacity utilisation to cater to the forecast demands in the commercial and residential sector. The launch of the UKAS certified products will be completed in the near future and the company says it will continue to obtain UKAS certification for more products in the architectural range during the next few years giving Alumex a clear cut competitive edge over imported material.