News & market updates

Sri Lanka's local vehicle assembly sector has more than 17 assembly plants and aims to raise component export revenues from USD 800m to USD 2bn within five years. The industry directly employs over 5,000 skilled workers and has 17 additional investors preparing operations, supporting broader manufacturing growth.

Diesel & Motor Engineering PLC (DIMO.N0000) won two awards at the 2025 Weichai Lovol Global Partners Conference: the Loyal Partner Award and the Outstanding Marketing Activity Planning Award. DIMO is the authorised distributor for Lovol harvesters in Sri Lanka.

DIMO (Diesel & Motor Engineering PLC) won two awards at the 2025 WEICHAI LOVOL Global Partners Conference — the Loyal Partner Award and the Outstanding Marketing Activity Planning Award — for its work as LOVOL harvester distributor in Sri Lanka.

DIMO.N0000 opened a new DIMO CAREHUB in Marawila, Puttalam District, offering TATA vehicle sales, genuine spare parts, comprehensive after-sales services, agri machinery and household products to support local communities and economic activity.

Diesel & Motor Engineering (DIMO.N0000) opened a new DIMO CAREHUB in Marawila, Puttalam District, offering TATA vehicle sales, genuine spare parts, comprehensive after-sales services and agri machinery, along with tyres and household appliances to support local customers.

Diesel & Motor Engineering PLC (DIMO.N0000) appointed Ravi Jayawardene and Asela Perera as Independent Non-Executive Directors effective 1 January 2025. Jayawardene is a senior FMCG executive and INED of Cargills Bank; Perera is Group CIO of Dialog Axiata.

The ASPI rose 0.67% to 14,614 as the Colombo bourse closed higher with turnover of Rs. 6 billion and a net foreign inflow of Rs. 100.7 million. Banking led turnover (20%) and HNB, DIMO, Vallibel One, Central Finance and CTC were among the top positive contributors.

Colombo Stock Exchange closed higher as the ASPI rose 0.67% to 14,614.30 on turnover of 6.01 billion, with banking stocks rallying and foreign investors net buyers of LKR 100.7 million; top contributors included HNB, DIMO, CFIN and CTC.

DIMO (DIMO.N0000) won the Overall Silver Award for Overall Excellence in Corporate Reporting at the TAGS Awards 2024. The company also secured a Gold and four Silver awards (including Gold for Diversified Holdings) and released a braille synopsis plus a dedicated annual report microsite.

Hayleys PLC won the Gold for Overall Excellence in Corporate Reporting at CA Sri Lanka’s TAGS Awards 2024; Diesel & Motor Engineering PLC took Silver and Commercial Bank of Ceylon PLC featured among top winners. Multiple shortlisted firms (e.g., DIMO, COMB, LFIN, SFIN, CCS, HAYC, SLTL, LGL, FCT) received sector awards.

Executives from John Keells (JKL), Commercial Bank (COMB), Hayleys (HAYL), DIMO (DIMO), Horana Plantations (HOPL) and Printcare (CARE) were honoured as 'Top10 Champions of Diversity 2024' at a Women in Management Global and IFC event on 9 December 2024.

DIMO (Diesel & Motor Engineering PLC) won the Overall Gold at the CMA Excellence in Integrated Reporting Awards 2024. It also received five other awards including Top 5 Excellent Integrated Reports, Best Integrated Report in the Diversified Holdings sector (joint winner), and special awards for value-creation disclosure, concision and integrated thinking.

DIMO Academy (Diesel & Motor Engineering PLC) has partnered with HomeServe Germany to offer German‑accredited Diploma in Plant Engineering, including German language training and guaranteed job placements in Germany; a new Peliyagoda training facility is due to open Feb 2025.

DIMO's DIMO Academy has partnered with HomeServe Germany to offer a German-accredited Diploma in Plant Engineering that guarantees recruitment for certified 2025 graduates; DIMO will open a Peliyagoda training facility in February 2025.

DIMO will fit locally assembled Tata Xenon Yodha pick-up trucks with a new CEAT 215/75 R16 WINMILE X3 R tyre developed and manufactured by CEAT Kelani. The tyre is engineered for higher loadability (90D Ply Line), lower rolling resistance and improved mileage.

CA Sri Lanka hosted the SAFA Best Presented Annual Report Awards 2023 in Colombo, where Sri Lankan firms won 24 awards. Several listed companies — including Commercial Bank, Hayleys, Haycarb, Royal Ceramics, Access Engineering, Kelani Valley, Talawakelle, DIMO, Sri Lanka Telecom, Ceylon Tea Brokers, NDB and L B Finance — received awards or merit recognitions.

DIMO Healthcare (Diesel & Motor Engineering PLC) hosted the Varian Technology Symposium in Sri Lanka to promote advanced radiation therapy and encourage adoption of LINAC systems. Varian technology is already deployed at institutions including Asiri Surgical Hospital, and DIMO is the local Varian distributor with aftersales support.

DIMO, Tokyo Cement (TKYO) and Hayleys (HAYL) are sponsors and exhibitors at the Jaffna International Trade Fair 2025 (24–26 Jan), the 15th edition expecting over 100,000 visitors and showcasing construction, consumer goods, tourism, ICT, agriculture and related industries.

DIMO completed phase one of its 'Mahata Wahina Wasi Wassa' initiative, offering customers who buy Mahindra tractors between 1 Aug and 30 Nov a choice of gift packages. Gifts include e-bikes, a group trip to Malaysia, laptops/tablets or mud wheels plus a laptop to support farmer tech adoption.

DIMO (Diesel & Motor Engineering PLC) launched the 'Mahata Wahina Wasi Wassa' promotion, offering farmers free laptops, tablets, electric bicycles or overseas trips with each Mahindra tractor purchase (eligible Aug 1–Nov 30, 2024); the company has completed phase one.

Daraz launched its 11.11 sale running until Nov 17 with up to 90% discounts, vouchers worth over LKR 150 million, free delivery and partner bank discounts (including Commercial Bank, DFCC, HNB, Pan Asia, LOLC Finance, NDB) and featured brands such as DIMO.

The Institute of Supply and Materials Management held National Supply Chain Day on 24 Oct 2024 in Colombo, hosting an international seminar and awards attended by ~400 participants. The event featured CEOs from Dialog and Singer, and listed firms including Hayleys, Lion Brewery, Dipped Products, CIC, Alumex, DIMO and Haycarb were among nominees.

DIMO supplied a Kalmar DRU450 reach stacker to Rank Container Terminals at Orugodawaththa to boost container handling and terminal efficiency. DIMO, as Kalmar's local agent, will provide after-sales support, maintenance and genuine spare parts.

DIMO Healthcare installed the Siemens Healthineers SOMATOM go.Sim CT Simulator at Ceylinco Cancer Centre in Sri Lanka. The AI-enabled simulator provides advanced CT imaging, automated workflows and low-dose protocols to improve radiation therapy planning and patient outcomes.

The Sri Lanka Food Processors Association held its 27th AGM on 4 October 2024 and appointed a new 2025/2026 committee. Office-bearers and executive members include representatives from Ceylon Cold Stores, Diesel & Motor Engineering and Cargills, with Unilever Sri Lanka among event sponsors.

DIMO (Diesel & Motor Engineering PLC) concluded its second DIMO Care Camp, offering free tractor inspections, minor repairs and spare-part discounts across key regions (Batticaloa, Vavuniya, Kilinochchi, Mannar, Trincomalee, Anuradhapura, Kurunegala, Polonnaruwa) ahead of the Maha season.

DIMO.N0000 partnered with SDF.N0000 to offer special financing for STIHL tea pruners and tillers, with downpayments of 10% for tea pruners and 20% for tillers. The scheme includes after-sales service and training and aims to boost agricultural mechanization for small and medium farmers.

DIMO is powering Mercedes‑Benz Fashion Week Sri Lanka 2024 (7–10 Nov at Cinnamon Life) as partner and authorised Mercedes‑Benz distributor, underscoring its role in luxury, design and innovation. The event spotlights Sri Lanka's apparel manufacturing and seeks to boost international exposure for designers and exporters.