Leathergoods firm announces rights issue - leatherbiz: Leading news si Leatherbiz

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Leathergoods firm announces rights issue

05/07/2010
Leathergoods and footwear manufacturer Ceylon Leather Products has announced a rights issue; it said it wanted to raise fresh capital to payoff present debts, expand the business and take up various investment opportunities.

The company recorded strong profits during the last quarter of 2009 and the first of this year. Its expansion plans include opening a series of new retail outlets in strategic locations across Sri Lanka. It employs more than 400 people.

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