Business

Fire damage assessment on at Richard Pieris Natural Foam

Richard Pieris & Co. Ltd. has informed the Colombo Stock Exchange (CSE) that its foam rubber factory situated at the Biyagama Export Processing Zone belonging to Richard Pieris Natural Foam Limited had sustained extensive damage by a fire on January 15 but that the production facilities and goods had been insured.

"Investigations are currently under way to ascertain the extent of the loss and the damage caused," the company has said.

Richard Pieris has also said that according to its unaudited accounts, Richard Pieris Natural Foams Limited had recorded a turnover of Rs. 469.9 million and realized a loss of Rs. 1 million for the 9 months ended December 31, 2004.

Richard Pieris & Co. Ltd. owns 36% of Richard Pieris Natural Foams while Richard Pieris Exports owns 57% of that company.

 

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