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Asian Tribune is published by World Institute For Asian Studies|Powered by WIAS Vol. 12 No. 922

Loadstar world leader in solid tyre sales, honored with ‘Most Outstanding Export - Gold’

By Quintus Perera - Asian Tribune

Colombo, 08 October, (Asiantribune.com): Loadstar has shown the world that they are not ‘Load’ but ‘Lord’ in the annals of exports of rubber tyres from Sri Lanka and Loadstar - Mobility Systems for the Productive World- has many reasons to celebrate – which it has been decorated and acclaimed with highest accolades in the Country.

Loadstar (Pvt) Ltd, a joint venture between Jinasena Group and Solideal of Belgium, won three best awards climaxing to win the Most Outstanding Exporter of Sri Lanka, at the competition conducted by the National Chamber of Exporters of Sri Lanka (NCE), last week at Colombo Hilton Hotel.

Jinasena’s are not the people who ‘blow their trumpet’, but they realized that the world must know, how much they contribute to the national economy by being the single highest exporter with a chunk of two percent of the total Sri Lankan exports, making a huge contribution of seven billion dollars by means of foreign exchange.

Loadstar – Rubber tyre people to the world celebrated their winning the three NCE awards – Most Outstanding Exporter of Sri Lanka, Industrial Sector Extra Large; Most Outstanding Exporter, Industry and the Most Outstanding Exporter, overall.

At a press briefing held at Casa Bambalapitiya to announce their acclamations, last week, Dr Nihal Jinasena, Chairman, Loadstar, said that though they have not blared from rooftops, they are the market leader of the world in the production of solid tyres with a 25 percent share in the world market, a very proud achievement for a country like Sri Lanka.

In answer to a query from a journalist, Dr Jinasena said that they too are feeling the heavy impact of escalating cost of production such as electricity and fuel and also another major factor is productivity. He said when compared to the productivity of workers in Japan, Sri Lanka’s efficiency is around one third. To keep the costs down, they are constantly driving at technological innovations and said that with all these constraints, they are riding very high in the world arena of rubber tyre manufacture.

Dr Jinasena said that they are using 30 percent of rubber produced in Sri Lanka and around 15 percent is imported. He said that they have the largest group of customers in the world and their main manufacture is solid tyres and said that they were consistently ahead of their competitors, though to be the world leader would be a daunting task.

Loadstar not only, introduces innovative new products, but they fabricate huge machinery for their industrial use and have been spending Rs 250 million to have state-of-the-art manufacture. One of the newest products they have introduced to the market has been the rubber tracks for caterpillars etc and there are only five people in the world who possess this technology and Loadstar is one of them. Dr Jinasena said that Loadstar is number two in the world for the manufacture of rubber tracks.

In the manufacture of pneumatic tyres Loadstar claims a 5 percent market share in the world, which too is a significant quantity, Dr Jensen pointed out.

He said that their turnover is huge and while the 2005 figure was rupees five billion and last year it was Rs 28 billion. The products are marketed in 120 locations in 60 countries world over.

Dr Jinasena said that the hugeness and the magnitude of Loadstar involvement in the tyre industry could be gauged as Loadstar mixes a colossus of 290 tons of rubber per day, while their competitors elsewhere in the world would be mixing only 10 to 20 tons. They sell around 2,600 tyres per day and their customers in the world range from United States, Europe, Australia, Africa and the Middle East. These tyres are supplied to world famous companies such as Caterpillar, JCB, Fiat, Komatsu, Yale and John Deere.

As in the case of most of the successful entrepreneurs, Jinasena’s Loadstar also had its humble beginnings when they put up their first factory in Ekala, Ja-ela in 1984. They subsequently put up another factory in Kotugoda and their latest location is at Midigama, between Galle and Matara in a huge span of 45 acre land.

At the moment of celebrating the great success of Loadstar and when accolades are pouring, Dr Jinasena paid the company’s tribute to their highly dedicated, versatile and disciplined workforce.

Tissa Jinasena, CEO/Jt Managing Director and Koenrad Pringiers, Jt Managing Director associated Dr Jinasena at the Press Briefing.

- Asian Tribune -

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