Parquet (Ceylon) Plc has changed its name to Swisstek (Ceylon) Plc.
The Company specialises in the manufacture and sale of Tile Grout and Tile Mortar which are branded Swisstek. It also markets ‘Decorative Pebbles’ under the same brand.
In 2010/11, financial year the Company said it will invest more in building the Swisstek brand and the renaming is also part of that strategy. Last year the Company acquired 62% of Ceykor Aluminium Industries Ltd, a Company engaged in the business of manufacturing aluminium extrusions for the local market.
The Company also imports species such as Burma Teak, Merbau, Pyinkado and Walnut for flooring requirements in the local market.
CT Holdings-linked Lanka Floortiles Plc owns 48% stake in Swisstek whilst Lanka Walltile Plc owns 11.5% along with Managing Director Mahendra Jayasekara holding 7%.