AmSafe Bridport
(Pvt) Ltd., an American company that manufactures cargo pallet networks and
other aircraft equipment, has expanded its Sri Lankan factory with an
investment of US$ 2.3 million, the investment promotion agency said. In a
statement, the Investment Board announced the new factory is creating unique
production and employment opportunities in its Wathupitiwala Export Processing
Zone.
"This is
Sri Lanka's $2.3 million investment," said Jason Abbott, AmSafe Bridport
(Pvt) Ltd's chairman. “As part of our commitment to continuing our investment
and growth in Sri Lanka, we opened this facility. We will continue to invest in
this country." Founded in November 2001, Amsafe Bridport was initially named
Bridport Aviation. "The recent expansion reflects the continued growth of
our business," said Chandani Ekanayake, General Manager of the Sri Lankan
operations of AmSafe Bridport.
"We began
with a storage area of 35,000 square feet and added another 75,000 square feet
later. We have a team number of 550 at the moment. The recent addition of
55,000 square feet will set the stage for AmSafe Bridport's much greater growth
and hence jobs.”
"AmSafe Bridport
(Pvt) Ltd has significantly expanded and diversified the company's range of
products over the years. We began with subassemblies of cargo pallet net, but
are now the world leader in this sector, with many international airlines being
our customers" She said the company is now starting to produce more complex
products, many of which originated in Sri Lanka, including a fire containment
cover that can withstand 815 degrees Celsius water.
OSL Take: The
BOI export processing zones have continuously made significant contributions to
Sri Lanka’s export earnings. Most of the export processing zones have many
foreign business entities and joint ventures that have positively benefited
from the trade benefits enjoyed by Sri Lanka with many international markets.
The BOI zones
also provide the required infrastructure facilities to set up businesses with
ease and also offer many concessions to the foreign enterprises looking at
setting up base in Sri Lanka. International companies could explore the
possibilities of setting up businesses in the BOI export processing zones to
gain maximum benefits for their business.
VBS/AT/20191111/Z_TB3
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