HISTORY

 

ACL Cables PLC is the largest manufacturer of Cables in Sri Lanka . Having pioneered the industry in 1962, today ACL has grown to a Group of Companies holding a 70% share of the cable market in Sri Lanka .

One of the principle objectives of ACL is to participate in the infrastructure development of the country and the region, by providing cables and conductors for the transmission, distribution and utilization of electricity. ACL continues to innovate and lead the field in the introduction of new products, modern technology and machinery. In the four decades of its existence, the Company has evolved into a specialized manufacturer and supplier of the widest range of quality cables and conductors in the country, while possessing the most advanced technology in the Asian region in the manufacture of low voltage cross linked polyethelene cables.

One of the company's most notable technology transfer agreements in recent times have been with NOKIA of Finland for the manufacture of XLPE Insulated Cables, Aerial Bundled Cables and Aluminum Alloy Conductors.

Today, ACL is the most sought after brand of cables in Sri Lanka , having supplied 80% the requirements of Duty Free projects involving overseas investors approved by the Board of Investment, despite the presence of many competing, foreign brands of cables. Of the 11 tallest buildings in Sri Lanka , 8 are wired with ACL Cables. In addition, all leading factories, hotels, commercial buildings and warehouse use ACL cables. ACL was awarded the prestigious ISO 9002 Certificate in the year 1998. Presently, ACL is working towards the achievement of the ISO 14000 certificate.

ACL is now actively seeking opportunities for the export of cables to the regional markets. ACL has already exported cables to projects and electricity distribution authorities in Bangladesh , the Maldives , United Kingdom and Tanzania.
 

CONCEPT AT ACL

     

Modern industries and technologies have opened forth a wide range of endeavours and ventures in the Island of Sri Lanka. ACL ushered a new era in power sector and dedicated itself to the cause of transmission, distribution and utilization of electrical energy for all cross sections of the country.

With a rich heritage of over four decades, ACL offers its products, which not only meet the stipulated requirements of the governing National and International specifications, but far exceeding them.

Excellence through “Total Quality Management” is the catchword at ACL. Since its inception ACL has striven not only to upgrade the product quality but also to bring into practice superior management of men to make its place in the international market. Professionalism, advanced know-how and technology, customer service have been the hallmark of ACL. Its quality concept is translated into every length of products through co-ordinated efforts of professionals on job.

ACL TECHNOLOGY

From the inception ACL has been acquiring foreign technology for the development of existing and new products. In the year 1962,ACL commenced business with technical assistance arranged through the Colombo based liaison office of Mitsui. Thereafter, ACL joined hands with to cable companies in India to establish the manufacture of Aluminium Conductors and Armoured Cables.

One of the company's most notable technology transfer agreements in recent times have been with NOKIA Cables of Finland for the manufacture of XLPE Insulated Cables, Aerial Bundled Cables and Aluminium Alloy Conductors.

Having obtained technology from NOKIA on two occasions in the years 1989 and 1993,ACL upgraded its technology on XLPE insulated Aerial Bundled Cables to surpass National French Standards NFC 33-209 in the region by any other 1998 through its own Research and Development. The technology so achieved is employed in the region by any other manufacture of XLPE insulated Armoured and Unarmoured power cables. These developments offer many benefits to valued customers and in order to highlight those benefits it was decided to name all our XLPE insulated cables under the brand name POWER-X.

Having obtained ISO 9002 certification in the year 1998, ACL was awarded the prestigious ISO 9001:200 certificate in the Year 2002. In the same year ACL was awarded ISO 14001:1997 Environmental Management System Certification.

From the inception ACL has been acquiring foreign technology for the development of existing and new products. In the year 1962,ACL commenced business with technical assistance arranged through the Colombo based liaison office of Mitsui. Thereafter, ACL joined hands with to cable companies in India to establish the manufacture of Aluminium Conductors and Armoured Cables.

One of the company's most notable technology transfer agreements in recent times have been with NOKIA Cables of Finland for the manufacture of XLPE Insulated Cables, Aerial Bundled Cables and Aluminium Alloy Conductors.

Having obtained technology from NOKIA on two occasions in the years 1989 and 1993,ACL upgraded its technology on XLPE insulated Aerial Bundled Cables to surpass National French Standards NFC 33-209 in the region by any other 1998 through its own Research and Development. The technology so achieved is employed in the region by any other manufacture of XLPE insulated Armoured and Unarmoured power cables. These developments offer many benefits to valued customers and in order to highlight those benefits it was decided to name all our XLPE insulated cables under the brand name POWER-X.

Having obtained ISO 9002 certification in the year 1998, ACL was awarded the prestigious ISO 9001:200 certificate in the Year 2002. In the same year ACL was awarded ISO 14001:1997 Environmental Management System Certification.

ACL-TECHNOLOGICAL DEVELOPMENT

 

1962 - Establishment of ACL with technical assistance from Mitsui of Japan.

1978 - Introduction of Wire Drawing facility.

1981 - Acquisition of Technology from Alind of India for drawing and processing of Aluminium Conductors to jointly manufacture and supply 1400MT of AAC-fly Conductors to Ceylon Electricity Board.

1985 - Manufacture of Armoured power and Control Cables for the first time in Sri Lanka with Indian Technical assistance.

1989 - Acquisition of Technology from NOKIA of Finland to jointly manufacture XLPE insulated Aerial Bundled Cables to execute an order for 800 km of that product on an ADB funded tender floated by Lanka Electricity Company.

1993 - Acquisition of Technology from NOKIA of Finland to draw and age Aluminium Alloy and establishment of aging furnace.

1993 - Establishment of ACL Plastics Limited for the manufacture of our own PVC Compound.  

1998 - Successfully upgraded XLPE Extrusion Technology to National French Standards NFC 33-209 and won 500 km order for Aerial Bundled Cables from Ceylon Electricity Board.

           
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-VISION-

- To be the preferred brand of electric cables in the region, whilst strengthening the dominant position in Sri lanka.

-MISSION-

- To expand our range of products and services in the fields of electrification
- To be the most competitive in chosen global markets and to achieve   continuous growth.
- To create an environment that will inculcate a feeling of ownership in our people and their families.
- To create a company that will be in the forefront of technology and win the admiration of our customers, suppliers, shareholders and the community.

- VALUES-

We strive to do our best for our stakeholders in the following ways;

Our Customers

- We reach out to our customers and give them a fair deal
- We build enduring customer relationships without trying to maximize short term profits.
- We always make it easier for customers to do business with us.
- We communicate regularly with our customers.
- We never forget to say thank you.

Our People

- We respect each other as individuals and motivate our people to work as a team.
- We provide opportunities for personal and professional development.
- We recognize and reward individual initiative and performance of our people.
- We inculcate family culture and togetherness.

Our Suppliers

- We treat our suppliers as valuable business partners and maintain a mutually beneficial relationship.

Our Shareholders

- We ensure superior returns to our shareholders through sustained growth of profitability.

Our Community

- We carry out our activities in an environment friendly manner, contributing towards a safer and healthier community.
- We maintain ethical standards.

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COMPANY NAME

REGISTRATION NUMBER

ACL Cables PLC
P Q 102
 

BOARD OF DIRECTORS

AUDITORS

Messrs. PricewaterhouseCoopers

Chartered Accountants

100, Braybrooke Place, Colombo 02.

 
 

U. G. Madanayake - Chairman

Suren Madanayake - Managing Director

Dr. S. K. Madanayake (Deceased)

Mrs. N. C. Madanayake

A. M. S. De S. Jayaratne

Hemaka Amarasuriya

D. D. Wahalatantiri

P. S. R. Casie Chitty

 

BANKERS

Citi Bank

Commercial Bank of Ceylon PLC

Deutsche Bank

Hatton National Bank PLC

Hongkong & Shanghai Banking Corporation

National Development Bank PLC

Nations Trust Bank PLC

People's Bank

Sampath Bank PLC

Standard Chartered Bank

 

SECRETARIES

Messrs. Corporate Afairs (Private) Limited

No.24/2,Sri Siddhartha Road, Colombo 05.
 

GROUP FINANCIAL CONTROLLER

Champika Coomasaru

   
 

REGISTERED OFFICE

60, Rodney Street, Colombo 08. 		   

CONTACT DETAILS

Tel: +94 11 2697652

Fax: +94 11 2699503

E-mail: info@acl.lk

Website: www.acl.lk

   
Copyright©2011 ACL Cables PLC-Systems Dept.All right reserved

 

BOARD OF DIRECTORS
         
Mr . U.G . Madanayake - Chairman
   
Mr.U.G Madanayake had his early education at Ananda College , Colombo .He graduated from the University of Cambridge- England in 1958, and had his M.A . (Cantab ) conferred on him in 1962 . He is a Barrister at-law (Lincoln's Inn ) and an Attorney-at-law of the Supreme Court of Sri Lanka. He started his working life managing family-owned plantations until most of the lands were taken over by the State under the Land Reform Law of 1972. He still continues to have an active interest in agriculture.
 
   
He joined the Board of Associated Motorways Ltd, and subsequently became the Deputy Chairman of the Company.He became a Director of ACL Cables PLC (then Associated Cables Ltd.)in Jan 1963, its Managing Director in July 1978 and Chairman cum Managing Director in May 1990. He relinquished his duties as Managing Director in September 2005 after appointing Mr. Suren Madanayake as Managing Director. With the acquisition of Kelani Cables PLC. by the ACL Group in October 1999, he was appointed Chairman of Kelani Cables PLC.
 
   
Mr. Madanayake is also the Chairman of Fab Foods (Pvt.) Ltd., Ceylon Tapioca Ltd, ACL Plastics PLC., ACL Metals & Alloys (Pvt.) Ltd., ACL Polymers (Pvt.) Ltd. and ACL-Kelani Magnet Wire (Pvt.) Ltd. He is a Director of Ceylon Bulbs & Electricals Limited. He has over 40 years experience in the cable Industry.
 
         
 
Mr . Suren Madanayake - Managing Director  

Mr.Suren Madanayake had his education at Royal College, Colombo and qualified as a Mechanical Engineer from the University of Texas at Austin, USA. He was appointed to the Board of ACL Cables PLC., in June 1991 and appointed as Managing Director in September 2005. When Kelani Cables PLC was acquired in October 1999, he was appointed as Managing Director of KCL and Lanka Olex Cables (Private) Ltd. which is the holding Company of KCL. In 2003 he was appointed as Deputy Chairman of KCL.

He also serves as the Managing Director of Ceylon Bulbs and Electricals Ltd., ACL Plastics PLC and Director of ACL Metals & Alloys (Pvt.) Ltd., ACL Polymers (Pvt.) Ltd., ACL-Kelani Magnet Wire (Pvt.) Ltd., Fab Foods (Pvt.) Ltd. and Ceylon Tapioca Limited. He also serves as Chairman of CCC Foundation of Sri Lanka, which is an approved charity.
   
 

Mrs. N. C. Madanayake - Director
 

Mrs. N.C. Madanayake was appointed to the Board of ACL Cables PLC in July 1980.

She is also a Director of Kelani Cables PLC, ACL Plastics PLC, Ceylon Bulbs and Electricals Ltd. and Ceylon Tapioca Limited. Mrs. Madanayake is a pioneering Director of Fab Foods (Pvt.) Ltd. and now serves as Managing Director of the Company.

     

Mr. Ajit Jayaratne - Director

        

Mr. Ajit M. de S. Jayaratne had his education at Royal College, Colombo. He holds a B.Sc. (Economics) Degree from Southampton University and is a fellow member of the Institute of Chartered Accountants, England & Wales and also a fellow member of the Institute of Chartered Accountants, Sri Lanka. Mr. Jayaratne was the Chairman of Forbes & Walker Limited, The Colombo Stock Exchange, The Ceylon Chamber of Commerce and The Finance Commission. Mr. Jayaratne also served as the High Commissioner of Sri Lanka in Singapore sometime ago. He is now a Director of Singer Sri Lanka Ltd, Singer Industries Ltd., Colombo Fort Land & Building Co. Ltd., Colonial Motors Ltd., Overseas Realty (Ceylon) Ltd. and C.W. Mackie & Co. Ltd. Mr. Jayaratne was appointed to the Board of Directors of ACL Cables PLC in November 2005.

 
             
 
Mr. Hemaka Amarasuriya - Director      
 
Mr. Hemaka Amarasuriya is currently the Chairman of the Singer Group of Companies in Sri Lanka and a Senior Vice President of Retail Holdings Ltd., U.S.A., Singer's parent company. He is a fellow member of the Institute of Chartered Accountants of Sri Lanka and of the Chartered Institute of Management Accountants, U.K. He also holds a Honorary Fellowship from the Chartered Institute of Marketing, U.K. and a Diploma in Marketing Strategy from the University of New York.
 
He is on the Directorate of other listed companies such as NDB Bank PLC, C.W. Mackie PLC and non-listed companies such as Bata Shoe Co. Ceylon, Equill Ltd, TNL Radio Network (Pvt) Limited, Amariya Resorts (Pvt) Ltd., Micro Cars (Pvt) Ltd. & NDB Capital Bangladesh. Since holding the Chair of the Singer Group in Sri Lanka, he built this institution to regularly be among LMD's top 20 Corporates in Sri Lanka for an unbroken sequence of 12 years, while earning the status for Singer as the “Most Powerful Brand in Sri Lanka” and the vote as the “Most Popular Brand” for 5 consecutive years by People's Choice.
He was recognized by the Asia Retails Congress 2007 with the “Retail Leadership Award” for his contribution to retailing in Asia and by the Chartered Institute of Marketing U.K. as a “Visionary Business Leader” for his invaluable contribution to the Marketing Profession in initiating revolutionary changes in the Consumer Market.
His association with local industry goes back to 1992 from which time he has chaired the Regional Industry Service Committee – Southern Province of the Ministry of Industrial Development, responsible for developing Industrial Estates in the Southern Province outside of the Board of Investment, Sri Lanka.
He is a former Chairman of the Employer's Federation of Ceylon and was previously responsible for the Human Resource Development Function of Singer Asia and for the procurement function of Singer Global and also chaired the Singer Worldwide Business Council which is the policy implementation body of one of the oldest multinationals.
 
Mr. Rajiv Casie Chitty - Director
Mr. Rajiv Casie Chitty had his education at Royal College, Colombo. He became a fellow of the Association of Chartered Certified Accountants (ACCA), UK and Associate Member of the Chartered Institute of Management Accountants (CIMA),UK and a Chartered Financial Analyst, USA. He obtained his Masters in Economics from the University of Colombo and won the Janashakthi Gold at the 2006 CIMA Pinnacle Awards. Mr. Casie Chitty was appointed a Director of ACL Cables PLC in November 2005. He is currently an Executive Director of Ceylon Ceramics PLC, Managing Director / CEO of CT Plantations Limited & Horana Plantations PLC and also the Managing Director of Uni Dil Packaging Limited.
 
           
 
Mr. Daya Wahalatantiri - Director  
Mr. Daya Wahalatantiri had his early education at Holy Cross College, Kalutara and Royal College, Colombo. In 1990, he obtained his Masters in Business Administration from the University of Sri Jayawardenapura. He is a Graduate in Chemistry (Special) from the University of Ceylon, Peradeniya. Having gained suffcient exposure in marketing of industrial products to institutional customers, he joined ACL Cables PLC as its first Marketing Manager in 1982. He was appointed to the Board of Directors of ACL Cables PLC in November 2005.
         
 
Dr. S. K. Madanayake - Director (passed away)  
Dr. S. K. Madanayake had his early education at Trinity College, Kandy and Royal College, Colombo. He qualified himself as a Doctor of Medicine at Liverpool University in the U.K.,after which he practiced as a physician in Sri Lanka and in England. He was appointed to the Board of Directors of ACL Cables PLC (then Associated Cables Ltd.) in May 1980, Lanka Olex Cables (Pvt.) Ltd. in October 1999 and was a Director of ACL Plastics PLC., from its inception in 1991. Dr. Madanayake retired from practicing medicine and lives in Sri Lanka permanently.
Copyright©2011 ACL Cables PLC-Systems Dept.All right reserved

SENIOR MANAGEMENT TEAM

                 
         
Mr. Champika Coomasaru
Mr Bandula W arnakulasooriya Mr Rohitha Amarasekera Mr Lalith Ranatunga
Group Financial Controller

General Manager Administration

General Manager Operations Marketing Manager Institutional
Mr Lakshman Bandaranayake Ms. Senila Rupasinghe Mr.Manohara De Zoysa Mrs. Helen De Fonseka

Marketing Manager -Distribution

Import/Export Manager Group Logistics Manager Systems Manager
       
Mr Padmana W ijesundara Mrs. Shyamalee De Silva Mr R. Nandakumara Mr A. G. U. K. Abeynayake
Quality Assurance Manager Credit Control Manager Mechanical Engineer

Electrical Engineer

       
   
Mr Indunil Perera Mr S. M. W elihinda    
Security Manager

Plant Manager Copper Cables Factory

   
     
Copyright©2011 ACL Cables PLC-Systems Dept.All right reserved

 

GROUP STRUCTURE

Copyright©2011 ACL Cables PLC-Systems Dept.All right reserved

 

GROUP FINANCIAL HIGHLIGHTS

2011
2012
Rs .Mn
 
Rs.Mn
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
 
Operations
  
Turnover
9,570
10,306
  Gross Profit
1,289
1,730
  
Finance Cost
227
252
      
  Profit Before Tax
450
795
  
Profit After Tax
287
580
  Total Equity
4,517
5,677
  
         
 

Key Financial Indicators

 
Gross Profit Margin
13.47%
16.79%
   
 
  Net Profit Margin Before Tax
4.70%
7.71%
  Interest Cover (Times)
2.98
4.16
    
  Return on Equity
6.30%
10.22%
  
  Current Ratio (Times)
1.7
2.04
    
  Earning Per Share(Rs)
3.88
8.40
  
  Dividend per Share (Rs.)
-
0.70
    
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Anual Report 2008/09
Copyright©2011 ACL Cables PLC-Systems Dept.All right reserved

MILESTONES

1962

In March 1962, Associated Motorways Ltd (AMW) incorporated Associated Cables Ltd as a subsidiary for the manufacture of electric cables.

1963

Within a period of one year, manufacture of electric cables commenced in Sri Lanka for the first time with Japanese technical assistance within the AMW Industrial complex at Kalutara.

1976

The Company became a public quoted company under the rules of Colombo Brokers Association.

1978

Facilities for drawing of Copper wires were added.

1980

The Company moved out of AMW Group.

Aluminum Conductor plant was set up for the manufacture of AAC and ACSR.

1981

Joint Venture with Aluminum Industries Ltd, India for the manufacture of 1400 M/Ts of Aluminium conductors.

1982

Establishment of own distribution network island wide.

1986

Production of Armoured cable commenced at Piliyandala Factory.

1988

Company entered into a technical collaboration agreement with Nokia Cables Finland, for manufacturing of Aerial Bundled Cables and XLPE Insulated Cables.

1990

The name of the Company was changed from Associated Cables Ltd. to ACL Cables Ltd, in order to establish an independent identity for the Company.

1991

ACL Plastics Limited was incorporated for the manufacture of PVC compound.

1993

Second technical collaboration agreement with NOKIA Cables of Finland for drawing and ageing Aluminum Alloy conductors.

Commenced manufacturing of PVC compound at ACL Plastics Ltd, Ekala.

1995

Export of Cables commenced to Bangladesh and Maldives. Acquisition of Ceylon Bulbs & Electricals Ltd.

1999

Acquisition of Kelani Cables Ltd. Introduction of Power - X and Flexi cables.

2006

Incorporation of ACL Metals & Alloys (Private) Ltd and ACL Polymers (Private) Ltd.

Introduction of Fireguard and other fire rated range of Products.

2007

Winning the Achievers Gold Award for Performance Excellence awarded by the Ceylon National

Chamber of Industries, Sri Lanka, National Quality Award and Taiki Akimoto Award on 5S.

2008

ACL Cables PLC awarded the highest award of Asia Pacific Quality Organization beating participants from 46 countries. Recognized as a world-class company.

Awarded Super Brand status for the ACL brand.

2012

Incorporation of Ceylon Copper (Pvt) Ltd .to manufacture copper rods.

ACL secured SLS Certification for Armored Cables this year for the first time in Sri Lanka.

Copyright©2011 ACL Cables PLC-Systems Dept.All right reserved
 
     
A C L Cables PLC

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