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Tokyo Cement

From Wikipedia - Reading time: 7 min
Tokyo Cement Company (Lanka) PLC
Company typePublic
CSE: TKYO.N0000
ISINLK0165N00007
Industry
Founded1982; 42 years ago (1982)
FounderA. Y. S. Gnanam
Headquarters
Colombo
,
Sri Lanka
Key people
  • Harsha Cabral (Chairman)
  • S. R. Gnanam (Managing Director)
RevenueIncrease LKR52,478 million (2022)
Decrease LKR5,232 million (2022)
Decrease LKR(358) million (2022)
Total assetsIncrease LKR47,210 million (2022)
Total equityDecrease LKR20,920 million (2022)
Owner
Number of employees
Steady 1,206 (2022)
Websitetokyocement.com
Footnotes / references
[1]

Tokyo Cement Company (Lanka) PLC is a Sri Lankan cement manufacturing company headquartered in Colombo. The company is engaged in manufacturing Portland cement, Pozzolana cement, tile adhesives and other cement products.[2] Sri Lankan entrepreneur, A. Y. S. Gnanam founded the company in 1982.[3] Tokyo Cement Company is a quoted company on the Colombo Stock Exchange since 1984. The company was one of the components of the S&P Sri Lanka 20 Index until June 2022.[4] The company is ranked 29th amongst the LMD 100, an annual list of top 100 listed companies in Sri Lanka by revenue for the 2020/21 period.[5]

History

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The company was founded in 1982 as a joint venture between Mitsui Mining Company and St. Anthony's Consolidated under the leadership of A. Y. S. Gnanam, founder of the St. Anthony's Group.[6] In 1983, the construction of the manufacturing plant began in Trincomalee and the company was listed on the Colombo Stock Exchange in 1984. The Trincomalee cement factory, the second largest cement plant in the country at the time, was bombed in May 1986 by the Eelam Revolutionary Organisation of Students (EROS) which caused to halt the production and damage worth several million rupees.[7] The production commenced in 1988. Fuji Cement Company (Lanka) a fully owned subsidiary of the company commenced operations in 1998. In 2014, the company partnered with the Foundation of Goodness to sponsor a coaching programme for school cricketers. The company has continued its partnership with the Foundation since then. In 2015, Fuji Cement Company (Lanka) merged back with the Tokyo Cement Company.[8] In 2020, the company entered into an agreement with the Board of Investment of Sri Lanka for an expansion plan worth US$12 million.[9]

Operations

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In 2021, the company recommended to the government of Sri Lanka to extend the restriction imposed on importing cement in light of the depreciation of the Sri Lanka rupee. Managing Director S. R. Gnanam stated that the local manufacturers could meet 90% of the country's demand for cement.[10] The revival of the construction sector in the post-pandemic times is expected to increase the revenue of the Tokyo Cement by 12% in 2022.[11]

See also

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References

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  1. ^ "Annual Report 2021/22" (PDF). cse.lk. Tokyo Cement Company (Lanka) PLC. Retrieved 8 December 2022.
  2. ^ "Tokyo Cement Company (Lanka) PLC". ft.com. Financial Times. Retrieved 8 August 2021.
  3. ^ "Tokyo Cement Co. Lanka PLC". wsj.com. Wall Street Journal. Retrieved 8 August 2021.
  4. ^ "CSE announces constituent change in S&P SL20 index". dailymirror.lk. Wijeya Newspapers. 20 June 2022. Retrieved 22 June 2022.
  5. ^ "Financial Profile". LMD 100. Media Services Pvt Ltd. Retrieved 8 December 2022.
  6. ^ "Timeline". tokyocement.com. Tokyo Cement Company (Lanka). Retrieved 8 August 2021.
  7. ^ Samaranayake, Tilak; Ross, Lee Ann (November 1986). "The Economic Impact of the Recent Ethnic Disturbances in Sri Lanka". Asian Survey. 26 (11). University of California Press: 1240–1255. doi:10.2307/2644318. JSTOR 2644318. Retrieved 8 August 2021.
  8. ^ "Fuji Cement to be amalgamated with Tokyo Cement". ft.lk. Wijeya Newspapers. 4 December 2014. Retrieved 8 August 2021.
  9. ^ "Tokyo Cement to enhance production of Ordinary Portland Cement & Hydraulic Cement by 1mn MT per year". adaderana.lk. Ada Derana. 19 November 2020. Retrieved 8 August 2021.
  10. ^ Lugoda, Uwin (7 May 2020). "Tokyo Cement wants import restrictions continued". themorning.lk. The Morning Leader. Retrieved 8 August 2021.
  11. ^ "Immenent housing boom to lift Tokyo Cement". Echelon Magazine. No. 17 November 2020. Echelon Media Pvt Ltd. Retrieved 8 August 2021.
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Licensed under CC BY-SA 3.0 | Source: https://en.wikipedia.org/wiki/Tokyo_Cement
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