Wednesday, 26 May 2021 17:22

Access Engineering takes up ihe lead in in building material manufacture Featured

Access Engineering has expanded its infrastructure building business by venturing into building material manufacture in a big way, officials of the company announced

Access Engineering PLC (AEL) has invested Rs. 131 million to take up a 50% stake in Lanka AAC Ltd in new venture to manufactures Autoclaved Aerated Concrete (AAC) blocks, a lightweight brick used in the construction industry.

AEL’s core business is construction of buildings and other infrastructure and manufacture of construction-related material such as asphalt product, quarry products, crusher products and ready-mix concrete.

The latest venture will further extend its business lines in the ready-mix concrete segment, they said.

In the first half of FY21, AEL’s consolidated turnover was Rs. 10 billion, down from Rs. 12 billion a year earlier.

Pre-tax profit was Rs. 604.7 million, sharply down from Rs. 982.6 million in the first half of FY2


Latest Business News

There are 32615 listings and 1001 categories in our website