AMW to downsize operations in Sri Lanka

AMW, a wholly-owned company of Al-Futtaim based in UAE, which provides some of the world’s most-recognised automotive brands, services, and mobility solutions to customers, said it has begun the process of closing down identified locations across Sri Lanka. 
“The restructuring of AMW is in direct response to Sri Lanka’s current economic situation and the challenges that high inflation, vehicle import bans and high interest rates place on the automotive sector,” a statement said.

Over the coming weeks, the company will select the locations to close, with the closures taking place over the next few months. It will maintain the facilities and businesses owned by them across the country including its brand partnerships with Nissan, Suzuki, Yamaha, Renault and New Holland.
The statement further said that AMW employees have been informed of the resizing by management, and AMW is committed to offering the highest level of support to all employees during these challenging times. 

In recognition of their valued contribution, the company will be offering assistance for re-employment, well-being and financial support.
Peter Mackenzie, Group Managing Director, AMW said, “As a family business, people are our most important asset, and we have a responsibility to focus on decisions that protect our people and partners for the long term. 

While these decisions are always difficult, we are confident that these are the changes we need to make to ensure business longevity.”
“This is a strategic decision for us to consolidate our business and focus on our strengths. We are committed to ensuring AMW remains operational, continuing to work with its principals and maintains the highest level of customer service. We recognise and appreciate the service our employees across AMW have provided and their willingness to evolve as we enter this challenging period,” he added.