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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Three icons form Beverage Association of Sri Lanka

Three icons form Beverage Association of Sri Lanka

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1Three icons form Beverage Association of Sri Lanka Empty Beverage giants forms Association Thu Aug 09, 2012 1:33 am

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Sri Lanka beverage industry is growing over 10% and trend is expected to continue. Chairman of the newly formed Beverage Association of Sri Lanka, Jit Gunaratne said that one reason for this is the liberation of North East giving them a new market. The total value of the industry is around Rs. 25 billion and over 100,000 employed.

Leading beverage companies in Sri Lanka have come together for the first time in the history of the sector to form The Beverage Association of Sri Lanka (BAOSL). The association has been formed with the aim of providing a vital platform for the sector, whilst championing the contribution of its members towards the country’s economic sustainability. The BAOSL currently consists of Ceylon Cold Stores PLC (manufacturer and marketer of Elephant House Beverages), Coca-Cola Beverages Sri Lanka Limited and Varun Beverages Lanka Limited (the manufacturer and marketer of Pepsi Cola Inc beverages).

BAOSL is expected to raise the profile of a sector that has been a key contributor to the national economy over the years. Jit Guneratne, Chairman of the BAOSL commented: “We are delighted to announce the launch of the Beverage Association of Sri Lanka. It is heartening to see all the beverage firms forge a common bond and unite to form the association which will strengthen the voice of the sector and accord the sector its due status. The beverage sector is a valuable employment generator, heavy investor in technology and retail network development, and an environmentally conscious entity. We are confident that the formation of this body will provide a strong platform for the industry and its players who remain closely engaged with all stakeholders.”

It is pertinent to note that the sector has made heavy capital investments in machinery and technology over the decades. The industry is a key contributor to the national exchequer and thereby to the economic development of the country. The beverage industry provides employment to nearly 1,500 individuals who are directly employed by these companies whilst simultaneously creating indirect employment for 3,000 more. Moreover, member companies are responsible for providing trading opportunities to over 75,000 retailers.

The BAOSL will engage with stakeholders of the sector and bring to light the contribution made by the industry, for example, in ensuring proper storage and quality of beverages, through the provision of aids such as coolers and racks.

Further, Guneratne added: “The BAOSL will play the role of mentor and guide for the industry and ensure compliance and quality at all times. The convergence of leading companies on the BAOSL platform will be of infinite help in making representations to the government authorities on behalf of the industry, members of which were fending for themselves individually in the past.
http://www.dailynews.lk/2012/08/09/bus08.asp

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
By Cheranka Mendis
Three industry leading firms – Ceylon Cold Stores PLC, Coca Cola Beverages Sri Lanka Ltd., and Varun Beverages Lanka Ltd. – yesterday teamed up to form The Beverage Association of Sri Lanka (BAOSL), in order to raise the profile of the sector.

A first in the industry, the association hopes to bring in more companies engaging in the non-alcoholic beverage business as members in the future. The three represent icon brands Elephant House, Coke and Pepsi.

The companies, while continuing competition with each other in the market, will work in unity to provide a vital platform for the sector to promote its future growth.

JKH Consumer Food and Beverage Group President Jit Guneratne, who is also the Chairman of the new association, stated that the body was looking at facilitating the framing, development and dissemination of best practices in order to continue to produce safe and healthy non-alcoholic beverages to consumers, while proactively interacting with the Government and regulatory agencies in putting in place policies that could strengthen the industry.

While the industry itself is fragmented, Rs. 20-25 billion is generated as revenue, Guneratne said. Even though there are some 20 to 30 other non-alcoholic producers and marketers within the industry, the growth between last year and this year is 10%.

With the north and east opening up, volumes have increased over the years, he acknowledged. “However, we must remember that a lot of investments went into building the sector across the island.”

Essentially an industry for local consumers, the importation of non-alcoholic beverages is less than 5% he noted, adding that the export number was also a minute figure.

“We want to bring transparency and self-regulation into the field so that the end consumer will be benefited,” he added.

The association also intends to hold discussions with the Government on how the former could perform better with the reduction of Excise Tax through the Budget. The BAOSL hopes to work with all stakeholders of the sector to ensure proper storage and quality of beverages through provision of aids such as coolers and racks.

“We want to share our ideas with the Government and understand its priorities as well. While we do have a list of topics we want to discuss with the Government, we do not want pre-empt the discussions by going into the issue now,” Guneratne said.

“We have a lot of experience in the market and bring international expertise in as well and therefore hope to do the best for the industry.”

“It is heartening to see all the beverage firms forging a common bond and uniting to form the association, which will strengthen the voice of the sector and accord the sector its due status,” Guneratne said.

“The beverage sector is a valuable employment generator with nearly 1,500 directly involved and another 3,000 indirectly involved on top of the 75,000 retailers.”

The sector has also invested heavily in technology and heavy capital and worked on improving the retail network distribution.
http://www.ft.lk/2012/08/09/three-icons-form-beverage-association-of-sri-lanka/

3Three icons form Beverage Association of Sri Lanka Empty Three industry leading firms Thu Aug 09, 2012 2:53 pm

ddindika

ddindika
Manager - Equity Analytics
Manager - Equity Analytics
Aug 09, 2012 (LBT) - Three industry leading firms – Ceylon Cold Stores PLC (CCL), Coca Cola Beverages Sri Lanka Ltd., and Varun Beverages Lanka Ltd. – yesterday, 8th August 2012 teamed up to form The Beverage Associaion of Sri Lanka (BAOSL), in order to raise the profile of the sector.

A first in the industry, the associaion hopes to bring in more companies engaging in the non-alcoholic beverage business as members in the future. The three represent icon brands Elephant House, Coke and Pepsi. The companies, while coninuing compeiion with each other in the market, will work in unity to provide a vital plaform for the sector to promote its future growth.

sriranga

sriranga
Co-Admin
Topics merged.

http://sharemarket-srilanka.blogspot.co.uk/

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