Abstract:
Associated Motorways (AMW) was founded by Cyril De Soya
in 1949 and was initially engaged in re-trading used tyres. He
initiated the concept of attaining the maximum use of Sri
Lanka's natural rubber, through home-grown manufacture, in
conceiving the idea of tyre rebuilding and the manufacture of
rubber goods. Later, the company gradually began to import
new automotives and related products through agreed tie-ups
with some of the world’s leading automotive manufacturers.
Following a period of growth, the company was listed on the
Colombo’s Stock Exchange in 1969. In 1981, the company
secured the agency for Yamaha motor-cycles, and in 1992
signed an agreement with Maruti Udyog of India. Since then,
AMW has secured distribution agreements for Yamaha marine
products, Gizmo/Effie mopeds, Renault automobiles, Eicher
commercial trucks and Piaggio auto-rickshaws. The company
also secured an authorized dealership for Suzuki automobiles in
June 2006. Since 2003, AMW has maintained its position as the
country’s leading distributor of new passenger cars. Most of the
brands represented by AMW are among the most sought after in
the domestic market. In 2005, AMW accounted for around 31%
of total passenger car registrations, of which Maruti alone made
up about 26%. In 2006, AMW’s total revenues and operating
profits amounted to LKR 8,983mn and LKR 954mn
respectively, of which approximately 65% was derived from the
sale of passenger cars. The company is also the sole distributor
for Yamaha motor-cycles and outboard-motors, Eicher heavy
vehicles and has several other manufacturing interests.
