Damro opens Rs.310mn purpose-built office complex dedicated to exports

 

 

• Strengthens board of directors with respected corporate leaders
• Says on cusp of new phase of growth
• Space allocated to export operations now 1.063mn square feet

Damro Holdings, the Sri Lanka-headquartered furniture manufacturing and retail colossus, is making a new thrust to consolidate and expand its exports business with high-powered additions to the board of directors and an investment of Rs.310 million in a new Exports Office.

Located adjacent to the Damro Exports factory complex, the new three-storey, 32,000 square-foot purpose-built office building will accommodate all export-related departments of Damro under one roof, to create a more efficient work flow and an extra-convenient work atmosphere, the company said.

Added to the sprawling expanse already allocated to the Damro Exports factory, the new building takes the total space dedicated by Damro to the company’s furniture export operations to 1.063 million square feet.

Commenting on this latest development, Damro Group founder and Managing Director Damitha Ramanayake said, “In just 37 years, the Damro group has grown into South Asia’s largest furniture manufacturer and a major exporter into India. We have diversified into plantations and are now on the cusp of a new phase of growth, with a strengthened board of directors and more investments in the pipeline. This new office building is intended to facilitate this growth at a time when export growth is critical to the national economy.”

The group’s new board of directors, Chairman/Independent Director Anil Amarasuriya, a former Managing Director of Sampath Bank, Deputy Chairman/Independent Director S. Renganathan, a former Managing Director of Commercial Bank of Ceylon and Independent Director Reyaz Mihular, a former Managing Partner of KPMG Sri Lanka and Past Chairman of KPMG Middle East and South Asia, were present at the formal opening of the new Damro Exports Office, in Lolluwagoda, Mirigama, on May 3.

Damro Exports manufactures a wide range of household and office furniture, employs 800 people in its factory complexes in Sri Lanka and exports over 2,000, 40-foot containers per annum to India. Damro has a strong retail presence in India, with more than two decades of experience and has over 100 Damro showrooms spread across 10 states, with a workforce in excess of 700 employees.

Established in 1986, Damro is a Sri Lankan success story, with a current business portfolio that encompasses furniture manufacture, manufacture of washing machines and refrigerators and electronics retail, with a local showroom network of 174 stores and plantations. Damro attributes its success as one of the world’s largest furniture manufacturers to its ability to produce high-quality furniture at affordable prices and provide outstanding customer service.