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Laugfs announces solid tyre investment

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Sri Lanka’s Laugfs Gas PLC, a manufacturer of the Laugfs range of solid and press-on tyres, reported in a stock exchange filing that its wholly-owned subsidiary, Laugfs Eco Sri (Pvt) Ltd, intends to invest Rs. 150 million (£844,000) in convertible debenture at six per cent per annum in Laugfs Corporation (Rubber) Ltd, a wholly owned subsidiary of parent company Laugfs Holdings Ltd. The investment is subject to necessary procedures, the filing said.

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