Industrial Asphalts (Ceylon) PLC (IAC), is going through a capital raising exercise with a rights issue.
A new product promotion campaign is expected to recapture its market share in the protective coatings space in the paints and coatings industry. IAC is leveraging on the strength of its portfolio of brands to expand market share through new and innovative uses for its products.
The significant increase in such projects motivated the Board of Industrial Asphalts to go for a rights issue to strengthen its balance sheet. A stronger balance sheet would enable IAC to capture the emerging opportunities in the road construction space and the protective coatings segment.
In 2015, the Company embarked on registering its iconic brands with the National Intellectual Property Office. Today, the company has successfully registered all its brands under multiple classes to get complete legal protection from various infringements of the brands.