Aitken Spence rejuvenates two closed apparel factories, resumes exports

On the intervention of the Sri Lanka Board of Investment, Aitken Spence, took steps to re-operate two garment factories under Ace Apparels investing more than US dollars 3.6 million (in the first phase).

These two factories which exported their products only to the American market were forced to close due to the American and Chinese crises.

About 2,500 people who were making a living lost their jobs due to this. The value of the machinery of these factories located in the Koggala Investment Processing Zone is hundreds of millions of US dollars. The company’s chief executive officer, Lushan Perera says that this factory, which is operating under a new vision, will generate substantial new job opportunities, and it will expand further. He also said that steps have been taken to start the production process within 2 months.

Perera said that given the ongoing global economic crisis, his company’s hope is to focus on competitive products and find new markets and for that, he will pay more attention to the markets of emerging Asian countries such as India, China, Indonesia, and Japan.

Director of the Koggala Investment Processing Zone, Priyanka Ranatunga, Board of Investments, said that at present, a workforce of about 11,000 in the Koggala region is responsible for earning foreign exchange, and with the opening of new factories, that number may increase to 13,500, and in addition, a large number of indirect jobs will also be created. He said that it is predicted that the existing shortfall in price orders will be restored by the end of the year and the necessary empowerment of the factories will be done accordingly