Laugfs to Enter Pneumatic Tyre Market – Reports

Laugfs Gas Holdings will reportedly invest 800 million rupees (£10.4 million) to enter the international pneumatic tyre market in 2008. The first product in the Sri Lanka-based company’s pneumatic tyre portfolio was a Laugfs Colt, a 4.00×8 small pneumatic tyre with flexible sidewalls designed and manufactured for three-wheelers. “This has proved to be a major success and we command a high market share,” Laugfs chairman and managing director W. A. Wegapitiya was quoted as saying.

According to local news reports, a larger range pneumatic tyres for motorbikes, passenger vehicles and heavy-duty vehicles would be introduced this year. The company hopes to introduce this under the Palomino and Stallion brand names. Australia has been singled out as an initial export destination as Laugfs already has ties with the automotive lubricant market over there. The company hopes to install new machinery at their tyre factory in Horana for these new operations.