Company looks to ensure future sustainability by restructuring business across the country
AMW, a wholly-owned company ofAl-Futtaim, which provides some of the world’s most-recognized automotive brands, services, and mobility solutions to customers, announced today that it has begun the process of identifying locations to close across Sri Lanka.
Over the coming weeks, the company will select which locations to close, with the closures taking place over the next few months. It will maintain its owned facilities and businesses across the country including its brand partnerships withNissan, Suzuki, Yamaha, Renault and New Holland.
Peter Mackenzie, Group Managing Director, AMW, commented: “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 maintain the highest level of customer service. We recognize and appreciate the service our employees across AMW have provided and their willingness to evolve as we enter this challenging period.”
AMW employees have been informed of the resizing by management and AMW hascommitted 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.
About AMW
Established in 1949, a pioneer in the country’s tyre retreading industry, Associated Motorways (Private) Limited, popularly known as AMW, is a highly respected company in Sri Lanka with more than 65 years of service experience.AMW concentrates on product and service development, while offering world renowned automotive and related products and service brands to its valued customers. AMW’s core business sectors are Tyre Retreading, Automotive sales and after-sales services, Lubricants, Batteries & Tyres and Financial Services (Leasing, Hire Purchase) which are carried out by the following companies;
Associated Motorways (Private) Ltd.
Manufacturing sector – Tyre Retreading, manufacture of motorcycles tyres, manufacture of 3-wheeler tyres, manufacture of solid tyres, custom compound mixing and manufacture of other rubber products.
Automotive sector – Automotive sales, after-sales including Tyres, Batteries &Lubricants and car care products.
Automotive product range
– Motor cycles, Marine & Power products.
– Passenger cars, vans.
– Trucks and buses.
Associated Autoways Ltd. – Tyre retreading.
Associated Property Development (Private) Ltd. – Property Development.
AMW Capital Leasing & Finance PLC – Leasing, Hire purchase and acceptance of deposits.
Associated Motor (Lanka) Co.Ltd. – Sales & after-sales of pre-owned motor vehicles.
In July 2008, Associated Motorways (Private) Ltd. came under the management expertise of Al-Futtaim Engineering (AFE), a wholly-owned subsidiary of Al-Futtaim group, thereby aligning itself with the GroupAutomotive Division’s development strategy and the global strategy. A large conglomerate in the UAE and a multinational group, the Al-Futtaim group is an integrated commercial, industrial and services organization with diversified interests in automotive, electronics, insurance, services, real estate, retail and overseas.
