Lanka IOC stocks contributing to CSE’s bullish trend

By Hiran H.Senewiratne

Michelin Sri Lanka, formerly Camso Loadstar, the market leader in solid tyres, air tyres and tracks in the export market, is planning to invest in the largest tyre warehouse in Sri Lanka, named Export Greenfield.

“Michelin’s footprint in Sri Lanka reaffirms the trust the people have in it. Its specialized products in the country are solid tyres, air tyres and tracks. Therefore, with the expanding local market, the Group is planning to invest in this largest warehouse in the country soon, its Corporate Social Responsibility (CSR) Manager Sumedha Ruwankumara told The Island Financial Review recently.

“The total investment for the project cannot be revealed but it’s a big investment for the country in this crisis situation that we are experiencing, he said.

Ruwankumara added: “The Michelin Group is committed to supporting business continuity, supporting staff and community with CSR. We really believe in the spirit of Sri Lankans and the diverse skills and products are an asset to our global network.

“Apart from that success story in a crisis situation in the country, the company has undertaken to sponsor a major corporate CSR project. This was organized by Colombo South Rotary Club and the Kandana- Jaela Rotary Club jointly. They donated more than 200 spectacles and 25 packs of dry rations among needy people in the relevant areas.

“The company has a long history of conducting valuable CSR projects towards the community. We have a strong bond with the community around our facilities. The Michelin Group is committed to supporting business continuity, supporting staff and the community.

“The distribution of donations was conducted at Kudahakapola Temple at Ekala, where the company contributed more than Rs one million towards the entire project.

“We have a continued our CSR commitment through all crises, such as the worst Covid-19 years,

“We are also committed to providing employment opportunities by hiring personnel to key positions of skill within our company as well as looking for a larger scope of competencies, like engineering, manufacturing and IT services at all levels of education.

“Some CSR projects we have done so far are; upgrading community children’s parks, donating essential items to expectant mothers, donating vegetable and plant seeds, road repairs, eye clinics and weekly meals for elders homes/orphanages.”

Colombo South Rotary Club president M.P. Ganeshwaran and Kandana- Jaela Rotary Club president Ishanth Sameera coordinated the aid-distribution project.

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