Kramski invests Rs.160 mln in factory expansion
Kramski Lanka (Pvt) Ltd, a premier German venture at the Katunayake Export Promotion Zone, has begun construction on a new factory building estimated to cost Rs.160 million in order to increase its production capacity in Sri Lanka. The company is a subsidiary of Kramski GmbH, one of the world’s leading manufacturers of high performance stamping dies, complex stampings, mouldings and sub assemblies for world-renowned companies in the automotive, electronics, telecommunications, solar and medical industries. German Ambassador to Sri Lanka Dr.Jürgen Morhard was the chief guest at the foundation stone laying ceremony held recently. The project is planned to be completed by June 2013, to coincide with the 20th anniversary of the company.
In a media statement, company chairman Wiestaw Kramski said he is quite optimistic about the post war economic development and peaceful environment of the country. He said that this investment will help exploit the potential market opportunities in European, American and Asian markets despite the prevailing global economic crisis, to bring more valuable foreign exchange to the country.
The new building with 2100 square metre floor space will help accommodate a minimum of 16 injections moulding machines and six stamping press machines leading to doubling the plastic moulding and stamping production capacity of the company. The new factory will al- so generate 100 more employment opportunities in the fields of stamping and moulding.
The turnover of the company is projected to increase up to Rs.2.2 billion in the next five years which is double the current export revenue of the company. Kramski Lanka was established in Sri Lanka in 1993 as a supplier of component parts for stamping dies, high precision moulds and finished moulded products for European, North American and Asian markets.