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Eco Spindles (Private) Limited, Sri Lanka’s largest plastics recycler, has announced plans to expand its capacity to manufacture yarn using recycled plastics, as well as innovative new additions to its suite of cutting-edge, eco-friendly products used by some of the world’s leading fashion brands.

The company owns one of only two plants in the world capable of creating polyester yarn directly from recycled polyethylene terephthalate (PET) plastic flakes. After the completion of the second phase of its yarn plant expansion programme in April 2022, the company expects its capacity to manufacture recycled polyester yarn to increase by 120%, from 100 tonnes of Draw Textured Yarn a month to 220 tonnes a month.

For its third phase of expansion, Eco Spindles is exploring potential opportunities to expand its footprint within or beyond Sri Lanka.

Given that its products, made using recycled PET plastics, are primarily exported, these developments pave the way for the company to generate more export earnings and foreign exchange for Sri Lanka. It also addresses the improper disposal of plastics, one of the world’s biggest environmental issues.

These developments were announced at Eco Spindles’ annual yarn conference held virtually on the 14th February 2022, with the participation of the company’s senior management. During the conference, Eco Spindles also felicitated its top 10 buyers of 2021.

The conference featured keynote addresses from BPPL Holdings PLC Managing Director and Chief Executive Officer (CEO) – Dr. Anush Amarasinghe, Eco Spindles Yarns CEO – Nalaka Senavirathna and Eco Spindles Yarns Head of Sales – Jerome De Mel. In addition to plans for business improvement, the speakers also shared their insights into the ongoing battle against plastic pollution and offered promising solutions adopted on a national scale with global impact.

“As people who are passionate about the environment, we are painfully aware of the impact plastic materials have on nature since more than 583 billion PET plastic bottles are produced each year with 85% of it going to landfills. We also believe that to resolve this crisis, the solution is social entrepreneurship which seeks to create and support a circular economic model. It is from this understanding that Eco Spindles emerged, and we are fortunate that our customers and partners have supported us in this vital mission. We look forward to continuing to collaborate with them in the future,” Dr. Amarasinghe said.

Eco Spindles also announced plans to manufacture recycled polyester yarn using textile waste during the conference. The company has been working closely and trailing this innovation with leading apparel manufacturers in Sri Lanka and global apparel brands. The first commercially viable product will be launched in May 2022.

“Globally, only 20% of clothing waste is recycled or reused, while the remaining 80% is incinerated or in landfills. Given that Sri Lanka is a prolific exporter of apparel, the ability to recycle textile waste back to yarn will provide the domestic industry and its global brands and retail partners a significant boost in enhancing their sustainability efforts. Additionally, a PET bottle, which typically takes over 1,000 years to degrade in the environment, can be recycled into polyester yarn, which manufacturers later convert into garments. Through this conversion, we remove over 900 years in degradation time if we responsibly dispose of and recycle plastic,” Nalaka Senavirathna said.

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Kingslake, Sri Lanka’s leading manufacturing solutions expert, is celebrating 15 years of a time-honoured partnership with the country’s most trusted, oldest, and largest furniture manufacturer, retailer, and exporter, Don Carolis and Sons (Pvt) Ltd. The collaboration was initiated in the year 2007 when Don Carolis sought to implement the Infor SyteLine ERP system, with the purpose of simplifying and automating the company’s complex manufacturing processes.

Infor SyteLine is an advanced and highly flexible solution that offers manufacturers the functionality required to remain competitive in today’s complex, global environment. Offering a range of capabilities from advanced planning and material management, to financials, SyteLine delivers everything manufacturers need in a standard package. With this solution, manufacturers are afforded a significant advantage in advancing their business operations through the deployment of advanced information technology.

Commenting on the partnership with Kingslake, Viraj Hewavitharane, Chairman & Managing Director of H. Don Carolis said, “It has been a pleasure working with the Kingslake team over the past few years, and we are truly appreciative of Kingslake’s professionalism and customer service. We look forward to continuing our growing partnership with Kingslake.

“From the outset, our mission has been to enable local manufacturers to excel; from product concept, design and manufacture, to delivery,” commented Kingslake CEO Duleep Fernando. “Leveraging expertise and capabilities built up throughout our partnership with Infor, we have actively supported diverse organizations in enhancing their efficiency and expanding productivity, and our clients have generated increased profits using our solutions and expertise.”

Sampath Bank recently launched the extension of its ‘Gasai Mamai Pubudu Pothai’ tree planting program with the introduction of a vegetable gardening program at the Zonal Education Office, Piliyandala. The Bank launched its ‘Gasai Mamai Pubudu Pothai’ tree planting program in 2021 with the participation of schools located in those areas where it had earlier undertaken its ‘Wewata Jeewayak’ tank restoration program. Pleased with the progress and positive outcomes of this program, the Bank launched this initiative–a vegetable gardening program with the enthusiastic participation of students, teachers and principals of schools in the Zonal Education Office, Piliyandala. Going forward, the Bank plans to extend this program to a selection of 100 schools in Colombo and Colombo Suburbs.

The plan is to distribute ten types of vegetable seeds plus organic fertilizer and a set of cultivating tools per school, as per the request of the school or at the discretion of each school. Sampath Bank purchased the seeds from the Seed Planting Material Development Center of the Department of Agriculture. Meanwhile, ‘Gasai Mamai Pubudu Pothai’, the fruit sapling planting program launched last year is being successfully implemented in the Bibile, Kahatagasdigiliya, Talawakelle, Dehiattakandiya, Hingurakgoda and Jaffna Educational zones.

The objective of this program is to inculcate the traditional values of cultivation in the younger generation, whilst heightening the environmental consciousness in the minds of these schoolchildren.

“Building upon the success of the tree planting program was a logical next step,” said Lalith Weragoda – Group Chief Human Resource Officer, Sampath Bank PLC. “Tree planting promises great future benefits, and encourages schoolchildren to develop long term goals– Vegetable cultivation in school gardens is the next step of strengthening the bond between the environment and school children. That was the thinking behind Sampath Bank’s ‘Gasai Mamai Pubudu Pothai’ vegetable gardening campaign.”

Despite the obstacles currently faced by the banking sector in Sri Lanka, Sampath Bank has successfully maintained all its capital ratios well above regulatory requirements throughout Q1 2022. All the while, Sampath Bank has implemented all government-led moratorium schemes for eligible customer segments affected by the pandemic. The Bank’s digitalization strategy has also continued to prove its worth during these trying times by securing a more accessible and safer banking experience for customers.

Sampath Bank is a 100% local bank that has deeply rooted itself in the lives of the people of Sri Lanka. Established in 1987, the bank has become a state-of-the-art financial institution that continues to be a market leader today thanks to its constant innovation and customer focused approach to business. It has introduced many firsts to the Sri Lankan banking sector including introducing ATMs to Sri Lanka, extended banking hours, slip-less banking and adaptation of block-chain technology to name a few. As part of its visionary 2022 approach, the bank is steadily transforming itself into a ‘tech company engaged in banking,’ from the traditional approach of a bank adopting technology.

The Commercial Bank of Ceylon’s latest series of promotions to encourage new accounts and foreign remittances with special offers and gifts for customers took place in Jaffna recently and coincided with the festival of the Nallur Kandaswamy Kovil.

During the week-long campaign, the Bank created awareness about its retail product offerings, including the ‘Vibe’ Youth Savings Account, DotCom Teen Savings Account, and the ‘Arunalu’ Foreign Currency Minor’s Savings Account which was recently launched to encourage parents and guardians to save for their children in foreign currency. New Vibe and DotCom customers were presented Vibe and DotCom debit cards, free of charge.

The Bank also focussed on the benefits of using ‘ComBank RemitPlus’ for access to remittance-related information and services, Cash-to-Account remittance conversions, the convenience of receiving e-receipts for remittances credited to accounts, and the usefulness of ComBank Digital, the Bank’s omni-channel digital banking platform.

Potential customers were informed of the Bank’s ongoing promotions and offers via social media and leaflets activations at the Jaffna Peninsula. The Bank said it was able to reach a wider audience owing to the large crowds that had come to participate in the Nallur festival which is one of the most popular festivals in Jaffna.Pictured here are members of the Bank’s staff interacting with customers during the promotion and a ComBank Bank-on-Wheels unit deployed in Nallur.

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