Sri Lanka’s Bicycle Industry on the Brink of collapse
- 5opn1
- January 20, 2025
- Business News
- Sri Lanka’s Bicycle Industry on the Brink of collapse
- 0 Comments
Employees of Lumala City Cycle Industries Manufacturing Ltd., are calling for urgent Government intervention as their company faces an unprecedented crisis that threatens to shut down one of South Asia’s leading bicycle manufacturers.
Located at Panadura, Lumala has played a pivotal role in Sri Lanka’s industrial sector for over five decades, yet escalating costs and unfair market practices are now putting its survival at risk.
“The management has already begun a phased shutdown, closing the steel rim department and one of Sri Lanka’s few chromium plating plants.
Further closures, including fork and mudguard production, alloy rim production, frame manufacturing, and the paint department, are imminent unless immediate action is taken. Employees, many of whom have worked at Lumala for over two decades, now fear for their livelihoods,” said Lumala Factory General Manager Ranjith Siriwardana.
Employees highlight several key challenges that have contributed to this crisis. The local market is being flooded with imported bicycles and electric bicycles, many of which bypass regulatory checks
