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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lanka’s controversy hit glove making factory to be shifted

Sri Lanka’s controversy hit glove making factory to be shifted

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sriranga

sriranga
Co-Admin

Sri Lanka’s controversy hit glove making factory to be shifted Dipp10
http://www.cse.lk/cmt/upload_cse_announcements/1941387444056_.pdf

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

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics

Sri Lanka based Dipped Product PLC, a glove maker has decided to shift its controversy hit factory located in Weliveriya to the Biygama BOI zone.

In a stock market disclosure, the firm announced that it is compelled to move the factory from the present location as protest by certain villagers are preventing it from resuming operations of the existing plant.

The new facility will start operations from April 2014, the firm said.

Dipped Products PLC, a unit coming under Hayleys conglomerate had to stop operations in its factory located in Weliweriya in the Rathupaswala area in July 2013 following a massive public protest.

The protestors demanded the closure of the factory as they believes the chemical used in the plant is affecting the well water in the area.
Dipped Products denies the claim.

The protest which ran up to more than a week resulted in three deaths as protestors clashed with the army.

Dipped Products PLC is one of the leading protective glove maker in the world.
www.news360.lk

yellow knife


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

There are very few export oriented thriving businesses in Sri Lanka. Dippd is one such. May be they have dumped the waste without much care and has caused environmental issues. If so where are these environmental authorities? Dont they get the punishment than the whole economy of the country? Even the opposition politicians took this as a jumping board. No one really looked into details of this problem and the impact . Its sad to note the current situation of Dipped. Hope this company will perform well against all odds

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