Top Japanese firm invests $ 10 m to set up electronics venture

Sunday, 14 November 2010 23:42 -     - {{hitsCtrl.values.hits}}

MASPRO a top Japanese brand into TV receiving Equipment/TV antennas, satellite receiver/communication devices has entered the local market investing USD 10 million with the objective of offering its branded quality products with Japanese technology to make TV reception clear to Sri Lankan viewers.

The company plans to make Sri Lanka the launching pad to export the products to South Asian countries, Middle East and Africa whilst having the production base in Sri Lanka.

Resurgence of peace after few decades, confidence in the government of Sri Lanka, Free Trade Agreement with Indian and the reliability and trust on the local partner in Sri Lanka, Nippon Maruchi Lanka Ltd., has reasoned Sri Lanka to be selected as the first county in the MASPRO Global Expansion programme. MASPRO is a leading Japanese company with more than half a century of experience in the trade.

MASPRO is making customers satisfied through their advanced technology in many countries where TV reception is not clear all the time. It has the capability of TV system design development and installation.

MASPRO Denkoh Corporation, Japan President Yoshimasu Hashiyama said that the company’s intention was not to bring finished goods from Japan but to design and develop in Sri Lanka, from the parts processing to the final assembly, and complete the product in Sri Lanka generating employment opportunities for Sri Lankan people.

Sri Lankan joint venture partner Nippon Maruchi Lanka, is a wholly locally owned Sri Lankan company formed in 1988. The Company’s name signifies ‘Japanese Technology to the World through Sri Lanka’. The company had adopted a strategy of trading first with Japan by manufacturing electronic components for leading Japanese brands. There is much in evidence that the company got it right, since it became one of the Sri Lankan finest electronic component manufacturing companies using higher technology. The factory is situated at the Homagama Industrial Park.

The newly established joint venture MASPRO Lanka will be a total solutions provider in television reception and broadcasting. The Japanese collaboration will develop local human resource capabilities spanning from research and development to production, which will contribute to improve the level of technology in Sri Lanka. The initial product ranges include VHF and UHF antennas and boosters and will also service the customers by installing them.

MASPRO Lanka Managing Director Shelton Fernando said: “The company will use its past production experience and capacity, Japanese technology and local knowledge to give a value added product to the local market at an affordable price. The sales and technical teams have already covered the Western Province, North Western Province and Southern Province. The company expect to own a 50 percent market share soon also by covering the North and East”.

The MASPRO Lanka Ltd is headed by the Managing Director Shelton Fernando assisted by local Director Sarath Kalubowila, in addition to the Japanese directorate.