Parquet likely to sell stakes
Lanka Walltiles Limited is likely to sell its associate company of
Parquet (Ceylon) Ltd, shortly, which is a Public Company listed on the
Colombo Stock Exchange, market sources said.
Parquet is a leading wooden floor company is an associate company of
Lanka Wall Tiles and Lanka Tiles Limited. The rumours speculated that
there will be a mandatory offer of Rs 40 a share and C.T Smith Stock
Brokers will be the main brokers involved with the deal, its sources
According to the market sources leading businessman is now in the
process of negotiating on the deal.
Parquet (Ceylon) Ltd is a fully export-oriented firm and its
technical and marketing staff is amply conversant with international
The Company strives to keep abreast of the latest international
developments in wood flooring, has been exporting its products over the
years to Germany, USA, UK, Australia, Netherlands, Switzerland, Belgium,
Japan, Korea, India, Norway and Greece.
The Company directs its products, both to the DIY market and the
Builders’ Market, paying special attention to particular market demands
to in relation to the type of products and finish. Parquet (Ceylon) Ltd
has won the prestigious Presidential Export Award in Sri Lanka, on five
Products manufactured out of Rubberwood (Hevea Brasiliensis) by
Parquet (Ceylon) Ltd. are traded locally under the brand name “Asian
Oak”. The company is also known as “Swissparkett” under which trade name
the company’s wood flooring is distributed locally.
Parquet (Ceylon) Ltd. was established in 1967 and commenced its first
export operation in 1972.The Company had its beginnings working in
technical collaboration with Bauwerk AG of Switzerland. Its first export
products were Mosaic Parquet flooring of various designs.
Over the years the company has modernised and expanded its factory,
which now has a wide range of machines that could undertake the
manufacture of a variety of wood products. The modern timber drying
facilities and strict quality control procedure at all levels ensures a
high quality product adhering to international standards.