Associated Motorways (Private) Limited (AMW) has formally transferred its Solid Tyre Division to wholly owned subsidiary AGTL (Associated Global Trading (Private) Limited), marking a significant milestone in the company's long-term growth strategy and a foundational step towards…
Associated Motorways (Private) Limited (AMW) has formally transferred its Solid Tyre Division to wholly owned subsidiary AGTL (Associated Global Trading (Private) Limited), marking a significant milestone in the company's long-term growth strategy and a foundational step towards AGTL operating as a Board of Investment (BOI)-registered entity.As a BOI-focused manufacturing entity, AGTL will be better positioned to expand production capacity, accelerate export growth, and strengthen strategic partnerships, building on its established presence in international markets to further position Sri Lanka as a competitive manufacturing hub.The transition was commemorated at an official ceremony held at the AMW Head Office, attended by Duminda Hulangamuwa, Chairman of the Board of Investment of Sri Lanka, and Dr. J. G. L. Sulakshana Jayawardena, Director General of the Board of Investment of Sri Lanka, reflecting the national significance of this strategic initiative.Jorge Navea, President of Al-Futtaim Automotive, and Antoine Barthes, Vice President – Emerging and International at Al-Futtaim Automotive, were also in attendance, underscoring Al-Futtaim's continued confidence in Sri Lanka and its commitment to supporting the country's industrial growth. They were joined by Jawahar Ganesh, Managing Director of AMW, and the AMW Senior Management Team.Jawahar Ganesh, Managing Director of AMW, said: "Formalising the transfer of our Solid Tyre Division to AGTL is a deliberate step in our broader strategy to build a more focused, investment-ready business. BOI registration opens a new set of opportunities, from expanded production capacity to deeper integration with global markets, and we are well positioned to capitalise on them. This is about ensuring AGTL has the right structure to grow on its own terms, with the full backing of AMW and Al-Futtaim behind it."This strategic move highlights AMW’s comprehensive business offering, which spans vehicle distribution, manufacturing, after-sales services, and retail. By streamlining operations and allowing AGTL to independently scale its export capabilities, AMW further strengthens its position as a leader in the automotive sector.Photo Caption: Representatives of AMW, Al-Futtaim Group and the Board of Investment (BOI) of Sri Lanka at the official ceremony marking the transfer of AMW's Solid Tyre Division to Associated Global Trading (Private) Limited (AGTL), paving the way for AGTL to become a BOI-registered manufacturing entity.