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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » ITALIAN TYRE GIANT MARANGONI TURNS ITS BACK ON SRI LANKA

ITALIAN TYRE GIANT MARANGONI TURNS ITS BACK ON SRI LANKA

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samaritan


Moderator
Moderator
Italian tyre giant distances itself from big Horana project.
An Italian company that was reported to be investing in a US$ 75 million (Rs 11 billion) tyre production plant in Sri
Lanka under the Board of Investment (BOI) has distanced itself from the project.

“Contrary to what was reported in several recent articles, the possible 75 million dollar investment in Sri Lanka only involves Marangoni indirectly,” the Italian firm said.
http://www.sundaytimes.lk/170108/news/italian-tyre-giant-distances-itself-from-big-horana-project-223365.html


_________________




The biggest risk in life is not taking any risk at all.

sisira.wijeweera


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@samaritan wrote:Italian tyre giant distances itself from big Horana project.
An Italian company that was reported to be investing in a US$ 75 million (Rs 11 billion) tyre production plant in Sri
Lanka under the Board of Investment (BOI) has distanced itself from the project.

“Contrary to what was reported in several recent articles, the possible 75 million dollar investment in Sri Lanka only involves Marangoni indirectly,” the Italian firm said.
http://www.sundaytimes.lk/170108/news/italian-tyre-giant-distances-itself-from-big-horana-project-223365.html
now good news camming  mkt will up........ sure

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Another stunning news as sun arises.

chamil1


Manager - Equity Analytics
Manager - Equity Analytics
Sunday Times news is wrong

http://www.marangoni.com/en/2016/09/19/marangoni-and-ceylon-steel-corporation-partnership-agreement-sri-lanka/

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Curious of that article embedded does not carry a date.

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
Actually , as 'non-laymen' or as people with   investment minded  analytical skills , we may come to guessing conclusion in this matter.

The clue is in this statement in Marangoni web site. (chamil1's comment)

• The SriLankan  plant will produce tyres using the most advanced technologies provided by Marangoni...

• The operation is included in the sales process of the Marangoni Tyre  equipment and know how.

• Marangoni Tyre S.p.A ended its production activities in 2014  , exit from the car and light tyres business.

If you analyse the whole picture ,

☻ Marangoni  ended its car & light truck tyre production in 2014
☻ They still have know-how and machinery to make same quality tyres.
☻ Ceylon Steel Co. is starting tyre plant in SL
☻ They are getting machinery used by Marangoni because Marangoni has sold their equip to them
☻ They are also getting necessary know-how from Marangoni.

Now, Ceylon Steel or Lokuwithana Group is making tyres here using Marangoni technology and equips but they are not Marangoni because Marangoni have not sold their Trade mark.

Not like fake Volskwagon poottu plant , I feel the quality and quantity from Horana Tyres will produce good to this country.  Because the way they have obtained the machinery and knowhow shows long term success.

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Chinwi has explained that Marangoni just transfer only technical know how to Ceylon Tyre co. but not direct investment or joint venture with local enterprise. 

Read several news released on the subject & evaluate how the facts are distorted. This is an obvious imbalance of ethics & professionalism practiced by media.

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