Company looks to ensure future sustainability by restructuring business across the country
AMW, a wholly-owned company of Al-Futtaim, which provides some of the world’s most-recognized automotive brands, services, and mobility solutions to customers, announced today that it has begun the process of identifying locations to close across Sri Lanka.
The restructuring of AMW is in direct response to Sri Lanka’s current economic situation and the challenges that high inflation, vehicle import bans and high interest rates place on the automotive sector.
Over the coming weeks, the company will select which locations to close, with the closures taking place over the next few months. It will maintain its owned facilities and businesses across the country including its brand partnerships with Nissan, Suzuki, Yamaha, Renault and New Holland.
Peter Mackenzie, Group Managing Director, AMW, commented: “As a family business, people are our most important asset, and we have a responsibility to focus on decisions that protect our people and partners for the long term. While these decisions are always difficult, we are confident that these are the changes we need to make to ensure business longevity. This is a strategic decision for us to consolidate our business and focus on our strengths. We are committed to ensuring AMW remains operational, continuing to work with its principals and maintain the highest level of customer service. We recognize and appreciate the service our employees across AMW have provided and their willingness to evolve as we enter this challenging period.”
AMW employees have been informed of the resizing by management and AMW has committed to offering the highest level of support to all employees during these challenging times. In recognition of their valued contribution, the company will be offering assistance for re-employment, well-being and financial support.