Still Seeking Foreign Investors

Lanka Glass Manufacturing Company of Sri Lanka is still desperately seeking foreign investment, two years after it halted melting. The directors of the company believe that its survival depends on finding a strategic partner who has been successful in the industry and is capable of making a substantial investment. According to the chairman of the company, a large number of potential investors have been contacted but non of the negotiations have so far proved fruitful. Although the furnace was closed in 1998, the company has ensured that its plant and machinery are maintained adequately to enable the early restart of operations when necessary. (whole item)