The world renowned construction, production and engineering services entity MDT Walkers PLC is to acquire the land development, building contractors, machinery and electronics manufacturing firm Wincon Development Ceylon (Private) Limited for a sum of Rs. 2,174 million.

The MDT Walkers PLC board of directors has approved the acquisition of all Wincon Development Ceylon (Private) Limited shares at Rs. 4.01 each.

Listed with the Colombo Stock Exchange since 1981, MTD Walkers PLC manufactures and sells tea production machinery and they are also being exported to Rwanda and Vietnam.

The chairman of MTD Walkers PLC is Dato’ Azmil KhaIiIi Bin Dato’ Khalidand prominent Sri Lankan businessman Ravi Wijeratne is an independent non-executive director of the company.

Wincon Development Ceylon (Private) Ltd was established in 2003.