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| Historical Note |
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Diesel & Motor Engineering PLC is probably the oldest sole distributor for Mercedes-Benz Passenger and Commercial Vehicles, in the Asian Region. In Sri Lanka, DIMO is colloquially known as the ‘Benz Company’. The Company was established in 1939 as a partnership by the late Messrs T.S. Peries, P.D. Alexander, C.A. Algama and H.A. Algama who were entrepreneurs in their own right, along with the late Mr. F.K. Heller. Initially, the Company commenced operations with the staff of 29 and was only confined to automobile sales and servicing. In 1945, DIMO was incorporated as a Private Limited Liability Company. In 1964, DIMO was converted into a Public Quoted Company by obtaining a listing at the Colombo Brokers’ Association, as it was then known. Since its modest beginning, the Company has grown in size as well as in scope, and presently has a workforce of over 800. With almost seven decades of experience in the automobile and engineering industry the Company over the years has made a significant contribution towards the development of the transportation sector in Sri Lanka. Dimo Industries Pvt Ltd. and Dimo Pvt Ltd., were incorporated as wholly owned subsidiaries in the early 70s. Dimo Industries Pvt Ltd., was established to manufacture automobile parts, while Dimo Pvt Ltd., was for the sale and service of Telecommunications, Power Engineering and Medical Equipment. In 1986, Hayleys Group acquired a stake in the equality capital making DIMO an Associate Company of it. Hayleys Group current holding is 28% of the equity. The present divisional organisational structure was introduced in 1987 to support and nurture the development of the Company and to institutionalise the corporate management process. The Dimo automobile training school, which is the only one of its kind in the private sector was established in 1990 and sets a two-year course designed by the Mercedes-Benz, to international standards. Dimo’s portfolio consist of ‘best in class’ brands such as Daimler Chrysler, TATA, MTU, Bosch, Komatsu, Siemens, Michelin, Osram and Mahindra & Mahindra to name but a few. In 1996, the Company relocated its after sales and service activities of commercial vehicles, construction machinery and power systems at Siyambalape, Biyagama which is about ten kilo metres away from Colombo city limits. The workshop complex is equipped with state-of-the-art machinery and equipment. The Company continues to expand its branch network and presently has five showrooms within Colombo city limits and three outstation branches located at Anuradhapura, Kurunegala and Matara. The Head office is conveniently and spaciously remains located in an area of approximately 10,000 sq. metres in a central commercial sector in Colombo. The complex houses the Company’s administrative and sales offices, passenger car and automotive workshops with its showrooms. In 1998, Browns Dimo Industrial Products (Pvt) Ltd., was formed with Brown Group and DFCC Bank to undertake the activities of fabricating heat exchanges. During 2006, Company invested in Tyre rethreading and filter manufacturing ventures namely Dimo Industries Pvt Ltd. and Dimo KLN Industries Pvt Ltd. respectively. These factories were located in Homagama and Kandana. The Company’s logistic operation is being carried out from the property acquired at Weliweriya in Gampaha district in February 2008. |