United Motors Lanka
| United Motors Lanka PLC | |
|---|---|
| legal form | PLC |
| ISIN | LK0183N00000 |
| founding | 1945 |
| Seat | Colombo, Sri Lanka |
| management | Sunil G. Wijesinha |
| Number of employees | 985 (March 31, 2017) |
| sales | 14.716 billion LKR 74.3 million EUR |
| Branch |
Automobile trade Automobile manufacturing |
| Website | www.unitedmotors.lk |
United Motors Lanka PLC is an automobile dealer and manufacturer based in Colombo , Sri Lanka . The company also sells auto parts such as tires ( Yokohama ) and lubricants ( Valvoline ).
history
The company was founded in 1945 as a trading company. It was nationalized on March 8, 1972 and continued as Government Owned Business Undertaking (GOBU) United Motors. It has been the sole agent for Mitsubishi vehicles in Sri Lanka since 1985 . In 1989 United Motors was the first GOBU to be privatized and accordingly renamed United Motors Lanka Limited on May 9, 1989. On August 30, 2007, it was registered as United Motors Lanka PLC under the new Commercial Act.
In October 2002 UML took over Unimo Enterprises Limited, which is approved for the assembly of vehicles. In December 2009, UML opened a local assembly plant for the Zotye Nomad SUV , and in March 2014 another assembly plant in Ranala .
In the 2011/12 and 2012/13 financial years, the company, including its subsidiaries, had more than 1,000 employees.
UML was named one of the 25 most important cross-industry companies in Sri Lanka by Business Today in 2013 and 2014 . United Motors has offices in Anuradhapura , Kandy , Kurunegala , Matara , Nugegoda , Nuwara Eliya , Ratnapura and Jaffna . Subsidiaries include Unimo Enterprises Limited , Orient Motor Company Limited and UML Property Developments Limited . United Motors Lanka has been majority owned by RIL Property PLC since the end of 2017. In March 2018, UML sold its 50% stake, acquired in 2003, in TVS Lanka, a company belonging to the TVS Group .
Brands and models
In addition to Mitsubishi, UML sells the brands Perodua (since 1997), Brilliance (since 2015/16) and Zotye (since 2007) as well as commercial vehicles from JMC (since 2007), Dongfeng (since 2011) and vehicles from SAIC / MG (since 2014).
The number of vehicles sold recently fell from 86,880 (2015/16) to 50,410 (2016/17) due to changed customs and tax regulations. In the 2016/17 financial year, the Unimo Enterprises subsidiary assembled 1,130 Chinese vehicles of the DFSK and Zotye brands.
Web links
- Website
- United Motors Lanka, Drive On. Annual Report 2016/17 .
Individual evidence
- ↑ Interim Financial Statements For the Year Ended March 31, 2018 .
- ↑ converted at the rate on the balance sheet date, March 31, 2018
- ↑ United Motors Lanka, Things that matter. Annual Report 2014/15 .
- ^ About Company. In: unitedmotors.lk. Retrieved May 10, 2019 .
- ^ RIL gains control of United Motors. In: dailymirror.lk. December 27, 2017, accessed May 10, 2019 .
- ↑ United Motors divests stake in TVS Lanka for Rs.1bn. In: dailymirror.lk. March 28, 2018, accessed May 10, 2019 .
- ^ Company Overview of United Motors Lanka PLC. In: bloomberg.com. Retrieved May 10, 2019 .