Sri lanka News – Sri Lanka’s Laugfs Lubricants, which has a blending plant in the island said it had entered the Bangladesh market.
“Our expansion into global markets such as Bangladesh is a significant milestone in our journey as a home-grown brand…,” LAUGFS Lubricants Chief Executuve Niroshan J. Peiris said in a statment.
“At LAUGFS Lubricants, we have been able to steer forth to achieve our goals despite the prevailing challenging macroeconomic conditions…”
Sri Lanka is now caught in the worst currency crisis in the history of Sri Lanka’s soft-pegged central bank with the rupee falling from 200 to 360 to the US dollar, after two years of money printing to mis-target rates.
LAUGFS Lubricants says it has combed global technology and added local expertise from research and development to make lubricants that suit the tropical climate experienced in Sri Lanka and the rest of the South Asian region.
The company says it also holds Original Equipment Manufacturer (OEM) approvals for Volvo, Renault and Porsche vehicles, and says it is the only Sri Lankan lubricant manufacturer to hold licenses from the American Petroleum Institute. (Colombo/Nov17/2022)
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