Sri Lanka’s Bogala Graphite to produce lubricants

Sri Lanka’s listed graphite miner and exporter Bogala Graphite plans to acquire a manufacturing plant from its German parent Graphit Krophmuhl AG that would enable it to make value-added lubricant products, a statement said. Bogala Graphite disclosed the transaction with Graphit Krophmuhl AG, valued at Rs17 million (US$151,962) and amounting to 21% of the firm’s equity, in a stock exchange filing. The company said the new graphite lubricant dispersion plant is to be imported from Germany to Sri Lanka by the end of the year for its graphite lubricant manufacturing project. (September 24, 2010)