United Motors invests Rs. 75 m in heavy equipment subsidiary

United Motors Lanka Plc has floated a fully-owned subsidiary to deal with heavy equipment and machinery.

The company said it has invested Rs. 75 million in the 100% stake (7.5 million shares) of the subsidiary UML Heavy Equipment Ltd.

The subsidiary will be involved in the import and distribution of heavy equipment and machinery for all construction, agriculture, waste handling, demolition and earth preparation applications.