Bogala to produce graphite lubricants in Sri Lanka

Vijaya Malalasekara, chairman of Colombo, Sri Lanka-based Bogala Graphite, said the company will produce graphite lubricants to sell to the Southeast Asia. The plant, which will be located in Bogala, is expected to be completed in the first quarter of 2011. Bogala Graphite was privatized in 2000. Current financials for Bogala Graphite show a 59% increase in sales, with a gross profit of Rs 131 million (US$2.9 million) and a profit after tax of Rs70 million (US$1.5 million) for 2010. The volume of exports was 2,671 metric tons in 2010. Demand has been increasing for high-grade graphite products, company said. (March 11, 2011)