Fernwood Porcelain get financial boost for their future
Sri Lankan tableware manufacturer Royal Fernwood Porcelain Limited has received a boost with an investment from the Taprobane Group, a major investor in the Sri Lankan stock market.
The new investment has given a tremendous boost to the Sri Lankan firms operations, allowing the 15 year old site to undergo a technology overhaul including their on site decal manufacturing base.
The investment in these aspects of the firm will allow development in news shapes and patterns, which will be unveiled at key trade shows in early 2011.
Taprobane Group has significant share holdings in several reputed banks in Sri Lanka, as well as in sectors such as plantation, sugar, travel & tourism, energy, and financial services. They also hold controlling interest in the Sri Lankan conglomerate Browns group. With this investment, the Taprobane group will now hold 72% of Fernwood Porcelain.
Dr Jagath Peiris, who continues to be the Managing Director of the company said, “We value the relationships we have built with the existing customers over the past decade and would look forward to servicing them even better than before. With the new financial investment, we can now be more flexible to customer requirements, which are important for our customers to sustain or improve their market share.”
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