Richard Pieris & Company

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Richard Pieris & Company PLC

Type	Public
Traded as	CSE: RICH.N0000
Industry	Manufacturing Engineering Rubber Plantations Retail and Tyre Pumps Construction
Founded	1932; 90 years ago (1932)
Headquarters	Colombo, Sri Lanka, Sri Lanka
Key people	Sena Yaddehige (Chairman) and (CEO)
Revenue	Rs 55.045 billion (2018)[1]
Operating income	Rs 4.879 billion (2018)[1]
Net income	Rs 2.342 billion (2018)[1]
Total assets	Rs 64.820 billion (2018)[1]
Total equity	Rs 16.122 billion (2018)[1]
Owner	Skyworld Overseas Holdings Limited (25.37%) Camille Consulting Corp (16.10%) HSBC International (11.05%) Employees' Provident Fund (8.35%)
Number of employees	27,300 (2018)[1]
Website	Official Website

Richard Pieris & Company PLC (ARPICO) established in 1940 it is one of Sri Lanka's largest conglomerates with interests in manufacturing, engineering, retail and plantation industries. It is a pioneer in the tyre, plantation and rubber industries of Sri Lanka. With a staff strength of more than 25,000 the company's major brands includes Arpitec, Arpidag and Arpico.

History[]

The company was founded in 1932 as a partnership initially dealing with the plantation and tire industries.^[2] Initially it started as a family business. The founder member of the company Mr. Richard Pieris.^[3] Since then it has diversified into the areas of manufacturing, pumps, retail and engineering sectors. The company also pioneered the concept of hypermarkets in Sri Lanka through their 'Arpico Super Centre' chain. Today the company has more than 1000 retail outlets including dealerships and factories island wide.

Ownership Change[]

The Pieris family's stake in Richard Pieris as well as other large blocks of the company's shares was acquired by Dr.Sena Yaddehige and related parties in a hard-fought take over in 2002–2004.^[3][4]

Rubber[]

The company is engaged in the manufacture of moulded, extruded and foam rubber both for the export and domestic markets. Major markets include North America, Europe and the Middle East. The division conforms to ISO 9002 standards.^[5]

Tires[]

Richard Piries Company is the market leader and the pioneer in the tyre Retread industry of Sri Lanka and commands a market share of nearly 60%. In addition to that it has become the largest Retreader in the whole of South Asia which is a remarkable achievement for a Sri Lankan company. The company is associated with Bandag Corporation – USA and Birla Group India.

Plantations[]

The group is one of the largest players in the plantation industry with ownership of major plantation companies including Maskeliya Plantations PLC, Namunukula Plantations PLC and Kegalle Plantations PLC. The sector employees more than 24,000 people combined.

Retail[]

With its retail arm ‘Arpico Supercentre’ the company is the largest retailer of general household products in Sri Lanka. The company pioneered the concept of Hypermarkets in Sri Lanka.

Board of directors[]

The board is composed of distinguished professionals in their respective fields.