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We take care of all sizes of customers offering flexibility in our production process and runs.

 
 
 
 
 
 

We offer unique flexibility and a wider range of glass containers in different shapes and colours for many industry segments, irrespective of volumes.

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Announcements


PGC Announces Rights Issue and Appointment of New Director



PGC Announces Rights Issue and Appointment of New Director


1. PGC Announces Rights Issue


At a meeting held on 8th October 2007, the Board of Directors of Piramal Glass Ceylon Plc resolved to recommend to Shareholders a Rights Issue of five ordinary shares for every seven ordinary shares at a price of Rs. 1.90 per share. The new equity to be so raised will amount to approximately Rs. 750 million and will be utilised to part finance the Company’s relocation and expansion project at Horana. Following statutory approvals, an extraordinary general meeting will be convened to seek Shareholder approval for the proposed issue.

2. PGC ANNOUNCES APPOINTMENT OF NEW DIRECTOR


Piramal Glass Ceylon Plc is pleased to announce the appointment of Mr. Ranjith Fernando as Director to the Board of the Company. With this appointment, the Board will comprise of Mr. V. Shah – Chairman, Mr. S. Tiwari - Managing Director & CEO, Mr. N. Santhanam, Mr. M. R. Prelis, Dr. C. T. S. B. Perera and Mr. R. M. S. Fernando.

Mr. Ranjit Fernando LLB is a Fellow of the Chartered Institute of Bankers, UK and the Charted Institute of Management Accountants, UK.Mr. Fernando is also a Companion of the Chartered Institute of Management, UK.He worked at DFCC Bank for 10 years and joined the National Development Bank in 1989 where he served as CEO from 1989 to 2001.His contribution to the development of the NDB as a DFI is well known in the country. He also served as the Secretary to the Ministry of Investment Promotions, Industrial Policy, and constitutional Affairs during 2002-2004.

Mr. Fernando also serves as an international consultant and advisor to the World Bank and the Asian Development Bank and is a member of the Board of Trustees in Women’s World Banking, New York.

The Board of Piramal Glass Ceylon will be further strengthened with the appointment of Mr. Ranjith Fernando as an independent local director. His vast industry experience and knowledge will be a valuable contribution in the future endeavours of the Company.

3. PGC GETS THE GOLD AWARD

In the recently concluded awards ceremony by the Institute of Packaging - Sri Lanka, Piramal Glass Ceylon Plc, bagged the Gold Award under the Consumer Packing Category. This award was given to the Company in recognition of the development of the unique 750 ml. blue Antiquity liquor bottle. This bottle has been developed by the Company for one of the largest liquor manufacturers in the world. Ceylon Glass is presently the only manufacturer in South East Asia who has the capability to produce this kind of coloured bottle.

Following the completion of the expansion project at Horana, Ceylon Glass will be have a boosted capacity of around 250 tons of glass per day. The Company would also have the flexibility to produce glass containers ranging in sizes from 50 ml to 2.5 litres in flint, amber and different shades of colours for the Pharmaceutical, Soft and Hard Liquor, Carbonated Drinks, Food and Beverages, Cosmetics and Perfume and Agrochemical industries.

4. PGC BULLISH ON EXPORT MARKET

A growing worldwide demand for speciality glass containers has presented opportunities for Ceylon Glass to enter the niche market for coloured glass containers. The Company is already the sole supplier of blue bottles for a major brand of the world’s second largest liquor producing company. Ceylon Glass is also exploring other opportunities in India, the Philippines, Mauritius and Australia. One product segment with great potential is the wine industry in India, which is experiencing substantial growth.
The strong domestic demand for glass containers and the export business pipeline have prompted Ceylon Glass to revise and expand the scale and scope of the new project to include an advanced raw material processing facility and a fifth production line. This would enable the Company to scale-up to an enhanced capacity of 250 tons of glass per day as against the present 120 tons per day. The Company would also benefit from improved processing of the main raw material of silica sand. Ultimately, the project revision will enable Piramal Glass Ceylon Plc to be better positioned to exploit domestic as well as export market opportunities.

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