Fuji Cement to be amalgamated with Tokyo Cement

Thursday, 4 December 2014 01:00 - - {{hitsCtrl.values.hits}}

The Board of Directors of Tokyo Cement Company (Lanka) Plc at its meeting on Monday has resolved to amalgamate the fully owned subsidiary Fuji Cement Company (Lanka) Ltd., with the parent. The name of the amalgamated company will be Tokyo Cement Company (Lanka) Plc and the move will take effect on 1 February 2015 or as decided by the Registrar General of Companies. Tokyo Cement said the amalgamation was in the best interest of both companies. “The proposed amalgamation of Fuji Cement with Tokyo Cement in accordance with the proposed scheme would enable all companies to realise benefits of greater synergies between their businesses and avail of the financial resources as well as the managerial, technical, distribution and marketing resources of each other in the interest of maximising shareholder and stakeholder value,” Tokyo Cement said. Fuji Cement owns 300,000 metric ton per annum cement factory in Trincomalee. The parent Tokyo owns 600,000 tons per annum cement factory in Trincomalee. Tokyo Cement also has several other subsidiaries Tokyo Super Cement Company Lanka Ltd (100% owned) which has 900,000 tons per annum factory in Trincomalee, Tokyo Eastern Cement Company Ltd., (100% owned), and Tokyo Cement Colombo Terminal Ltd., (59.87% owned) apart from Tokyo Cement Power (Lanka) Ltd (100% owned).

Dr. Harsha Cabral new Chairman at Tokyo Cement

Dr. Harsha Cabral PC has been appointed as the Chairman of Tokyo Cement Company (Lanka) Plc. The appointment follows the passing away of former Chairman Edgar Gunatunga. Dr. Cabral was appointed to the Tokyo Cement Board as an Independent Director Non Executive Director in 2009.

He counts for over 25 years of experience as a lawyer specialising in the fields of Company Law, Intellectual Property Law, Commercial Arbitration, Commercial Law and International trade Law. He has been President’s Counsel for eight years. He holds a PhD in corporate law from the University of Canberra, Australia. He is a member of the Law Commission of Sri Lanka and Advisory Commission on Company Law of Sri Lanka and a Council Member of the University of Colombo. He also serves on the boards of 15 companies and has authored several books on Company Law and Intellectual Property Law.