Alumex
Alumex PLC is an aluminium extrusions manufacturing company in Sri Lanka. The company was incorporated as a South Korean-Sri Lankan joint venture in 1986. The company commenced commercial operations two years later. The Sri Lankan partners acquired the South Korean partner's stake partners in 2006. Sri Lankan conglomerate Hayleys acquired Alumex in 2010 and was listed on the Colombo Stock Exchange after an initial public offering in 2014. Alumex is the leading aluminium manufacturer in Sri Lanka, with a market share of 46%. Alumex is one of the LMD 100 companies in Sri Lanka. History The company was incorporated in 1986 as Alumex (Pvt) Ltd, a South Korean-Sri Lankan joint venture. The company commenced operations with a five-inch extruder and an anodizing plant in 1988. Stanley William, who was a founding director of Sampath Bank, was the company's first chairman. In 2000, a seven-inch extruder plant set up in the Makola facility. It is the largest extruder in Sri Lanka. The Sri Lankan partners of the joint venture took control of the South Korean stake in 2006. Hayleys acquired 95% of the stake in Alumex for LKR2.2 billion in 2010. Up until then, Hayleys focused on manufacturing for the overseas