Godrej Locks enters Sri Lankan market [Jan 2012]

In a bid to expand their global footprints, Godrej Locks have entered the Sri Lankan market through a tie up with the ABANS group to promote and market their globally renowned brand of locks in Sri Lanka. The announcement was made at an event in Colombo today where Godrej Locks showcased their entire range of access control devices and locking solutions.
Commenting on the tie-up with ABANS group, Shyam Motwani, Executive Vice President and Business Head of Godrej Locks said, “The association with ABANS group will help us gain a strong foothold in the rapidly developing Sri Lankan market, build credibility and increase our distribution network.” He further added, “The Sri Lankan market with a value of approximately 50 million USD, is a market with a great potential. It is also a neighboring market and we feel that this close proximity is of great advantage to us. As identified, this market offers a lot of opportunity in the retail and institution segment. We are planning to increase the business volumes to a level of almost 3 times the size of the current value in year 1 and almost 5 times the current size by year 5.”

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