Rinstrum makes mark in Sri Lanka
The newly formed Rinstrum (Pvt) Limited in Dankotuwa, a fully owned
subsidiary of Australian based Rinstrum Pty Ltd is gearing up to reap
the post war opportunities in Sri Lanka with an initial investment of $
Paul Cooper Picture by Nissanka WijeratneSri
Rinstrum manufactures components for industrial weighing
applications, such as weighbridges, concrete batching and packaging
machines. The BOI approved company has already begun the production at
the former Venus Mills site, Dankotuwa from this month.
In an interview with the Daily News Business Rinstrum (Pvt) Limited,
Director Paul Cooper said the $ 1.5 million investment will just be in
equipment and a initial capital investment to the business. The company
is driven by a global philosophy of smart weighing. We develop products
and specialty weighing applications that are seen as highly innovative
and competitively priced. “The move of our manufacturing
facility from Australia to Sri Lanka fits this smart weighing
philosophy. The company currently does all the manufacturing in
Australia and is looking to use Sri Lanka as a global manufacturing hub
for our products.
All the assembling and programming work of components will be done in
Sri Lanka and then these products will be directly sent back to the USA
“Sri Lanka is close to our raw materials sources in Southern China
and Malaysia, and trade routes to our European and USA markets are well
serviced. Local staff are highly educated in all the needed areas,
micro-electronics, business and science.
Laws are clear and are applied uniformly, English is widely spoken,
It is easy doing business with the Sri Lankan government.These were the
major reasons for Rinstrum to select Sri Lanka as the company’s new
business expansion destination.
Once the company gets production established here, the company will
have the ability to provide over 100 jobs for local youth. In a few
years, Sri Lanka would become a comprehensive supplier to all of the
products we make,” Cooper said.
Cooper also hailed the government’s ongoing development initiatives
which will directly benefit business development activities in Sri
Lanka. “ There are still challenges for Sri Lanka, but I think Sri Lanka
is doing very well in terms of post war development programmes
particularly in infrastructure development activities,he said.
Commenting on the Board of Investments role in facilitating foreign
investments to Sri Lanka , cooper said that the role of BOI is very
crucial for business development activities and it has a sound mechanism
to facilitate foreign investors who prefer to invest in Sri Lanka. It is
imperative to note that BOI has to make sure that right companies are
coming to Sri Lanka to provide a wider service for the well being of the
communities where they operate in.
Rinstrum Pty Ltd is based in Brisbane Australia and has offices in
the United States and Germany.