Industrial Asphalts (Ceylon) PLC embarks on an ambitious expansionary plan

IAC

Industrial Asphalts (Ceylon) PLC (IAC), a company listed on the Colombo Stock Exchange under the stock code ASPH.N is going through a capital raising exercise with the announcement of the rights issue. The company is the pioneer in the bitumen business in Sri Lanka established in 1964 by a group of dynamic industry experts who set out to provide innovative solutions for the road construction.

The company from the inception also embarked on introducing highly successful bituminous products for the paints and coatings industry. IAC is the proud owner of some of the most iconic brands including NOLEAKÒ and BritexÒ amongst others. The portoflio brands and products have been serving the IAC’s customers for now close to 60 years. These brands popularity and brand strength can be measured by the fact that it has achieved a status of generic reference to the functionality of the brands denoted.




 
 
 

The company foresees rapid investment in infrastructure on the back of the Government’s development initiatives. Infrastructure sector in general and roads sector in specific will be experiencing significantly higher growth rates during the years 2021 to 2025. The extensive development of the roads is the primary thrust through which the Country’s infrastructure is being developed. The roads themselves are developed through multiple levels, providing more consistent growth in IAC’s products relating to the road construction and insulating from uncertainties stemming from funding issues and lockdowns introduced due to counter measures to combat COVID19.

From 2015, the Company embarked on a process of registering its iconic brands with the National Intellectual Property Office. Today, the company has successfully registered all its brands under multiple classes to get complete legal protection from various infringements of the brands. IAC is currently expanding its product offering under its brands to include Nano-technology in addition to polymer and acrylic products.

The complete range of product offering under its existing brands along with a new product promotion campaign is expected to recapture its market share in the protective coatings space in the paints and coatings industry. IAC is leveraging on the existing strength of its portfolio of brands to expand the market through new and innovitve uses for its productions.

IAC is currently going through an expansionary process to increase its operating capability by strengthening its balance sheet. The decline in the economy experienced during 2015 to 2019 is now being met with progressive policies which are reflected in the infrastructure development projects planned and executed currently.

The significant increase in such projects has motivated the Board of Industrial Asphalts (Ceylon) PLC to announce the rights issue with an objective of strengthening its balance sheet. A stronger balance sheet would enable IAC to capture the emerging opportunities in both road construction space and the protective coatings segment. The rights issue is well priced at 20 cents per share enabling wide range of investors to take the opportunity to invest in the growth of the Company. For any further clarifications on the rights issue, please contact 0115 289 845 / 0779 267 601.




 
 




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