JAT sets new benchmark in manufacturing excellence with new binder plant in Horana
Daily FT: JAT Holdings PLC, Sri Lanka’s market leader in wood coatings and brushes, recently achieved a significant milestone, with the official groundbreaking ceremony for its state-of-the-art binder plant, in Horana.
This exciting development marks the beginning of a new era of operational efficiency and superior quality for JAT, as it ventures into manufacturing binders, which are the most essential raw material for emulsion paint. With its commitment to backward vertical integration, heightened cost-efficiency, and unwavering dedication to quality, JAT’s binder plant will allow JAT Holdings to deliver unparalleled value to customers. It also represents a transformative leap forward, further cementing JAT’s position as the dominant player in the industry.
A special initiation ceremony was held to mark the occasion, at the site of the proposed new JAT binder plant in Horana, with key figures representing the Senior and Corporate Management teams of JAT Holdings PLC, in attendance. The event symbolized JAT’s relentless pursuit of excellence and innovation. It marked the commencement of construction of the new plant, which is expected to be completed by March 2024, laying a firm foundation for a new era of manufacturing capabilities for JAT.
JAT Holdings CEO Nishal Ferdinando expressed his enthusiasm for the project saying, “The initiation of our binder plant demonstrates our commitment to innovation and continuous improvement. With this venture, we aim to revolutionize the paint industry in Sri Lanka and beyond, providing our customers with cost-efficient, high-value and superior products.”
The development of the binder plant creates great synergies with the newly incorporated state-of-the-art R&D center. Therefore, this move firmly positions JAT Holdings PLC as the industry leader, leveraging its expertise and cutting-edge technology to optimize its production process for the company’s flagship emulsion paint brand White by JAT.
JAT Holdings Director of Research and Development Ajith Bandara added, “We’re excited to embark on this new groundbreaking journey. Our binder plant will not only enable us to meet the growing demand for emulsion products but also pave the way for collaborations with regard to binder/polymer-specific development and engineering with key universities and other research institutions. We are excited about the possibilities and the positive impact this will have on the industry.”
To ensure the highest standards of quality, JAT Holdings has recruited overseas consultants and R&D specialists who will collaborate on the formulation of its range of binders. The company has also made significant investments in automated machinery, which will enhance its productivity and efficiency.
OSL take:
Sri Lanka’s private sector has shown great resilience to internal and external challenges in the past few years indicating the overall strength and growth of the country’s economy. Despite the challenges posed by the global pandemic and the economic crisis that followed it, many private sector businesses posted profits. Sri Lanka’s economy has also shown great resilience through the years and is once again on the growth path. The country’s geographical positioning in the Indian Ocean and the many trade agreements as well as trade concessions enjoyed by Sri Lanka have also helped boost economic resilience. Given the country’s target of becoming an emerging business destination in the South Asian region, many private sector businesses are currently engaged in expansion programmers. It is also indicative of the overall growth and business potential in Sri Lanka. Foreign businesses/investors could therefore confidently explore the expanding opportunities in Sri Lanka. They could also look at forming partnerships or joint ventures with local businesses with the aim of further expansion.
| Article Code : | VBS/AT/20230920/Z_1 |