Richard Pieris & Company

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.

Richard Pieris & Company PLC
TypePublic
CSE: RICH.N0000
IndustryManufacturing
Engineering
Rubber
Plantations
Retail and Tyre
Pumps
Construction
Founded1932 (1932)
HeadquartersColombo, Sri Lanka,
Key people
Sena Yaddehige (Chairman) and (CEO)
Revenue Rs 55.045 billion (2018)[1]
Rs 4.879 billion (2018)[1]
Rs 2.342 billion (2018)[1]
Total assets Rs 64.820 billion (2018)[1]
Total equity Rs 16.122 billion (2018)[1]
OwnerSkyworld 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]
WebsiteOfficial Website

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.

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