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Sri Lanka: DIMO buys fruit & vegetable export firm

Diesel and Motor Engineering PLC (DIMO) has acquired a fruits and vegetable export firm for Rs. 450 million. This step reinforces its strategic shift to value-added agriculture. The venture is Tropical Health Food Ltd., engaged in the business of processing and preparing fruits and vegetables for the export market. DIMO has acquired a 94.45% stake in the company from its German owner Orhan Yilmaz.

Tropical Health Food is a Board of Investment approved venture established in 1994 to process and export organic foods for the European market. The company is the first organic food exporting company in Sri Lanka under organic certification of Control Union-Netherland.

According to its web site, Tropical Health Food produces 3000 MT of Pineapple, 100 MT of Mango, 100 MT of Banana, 115 MT of Ripe and Young Jackfruits. Its factory at Heraliyawala Industrial Park, Malkaduwawa, Kurunegala, has a capacity of 8,000 jars per day.

Source: ft.lk


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