Saskatchewan Partnership Poised to Lead Economic Growth in Sri Lanka

21 Oct 2016 --- POS Bio-Sciences is continuing to expand. The Saskatoon bioprocessing company is partnering with Apeiron Lanka Limited in Sri Lanka to develop a manufacturing facility designed to extract high-quality, pure essential oils. 

Essential oils have experienced a growing market in recent years thanks to increased popularity and enhanced utility. Derived from plant roots, seeds, flowers, leaves and bark, essential oils are used as additives in food flavourings, fragrances, personal care products, air fresheners, deodorizers, pharmaceutics, massage therapy products and feed additives. They can also be found in insect repellents and antimicrobial products. 
 
“Sri Lanka – a tropical country with ample rainfall and rich soil conditions – is blessed with valuable agricultural products of premium taste and quality,” says Ashoka Siriwardena, Chairman/Managing Director, Apeiron Lanka Limited. “Our customers will benefit from the high quality plant extract products, tailor-made by POS technologies to suit unique needs. We are very excited to build on this opportunity.”  

In the same way POS transformed canola for Saskatchewan farmers, this new facility will process raw materials from Sri Lankan farmers and employ Sri Lankan people. By working together, the partnership will compliment a rapidly growing local economy with a robust export market network. 

Speaking with FoodIngredientsFirst, Dale Kelly, President and CEO of the POS Group of Companies said: “The partnership will be create new jobs as we plan to open a new essential oil production facility. I would expect we would be adding 10 – 15 operators for this type of facility, plus some management – so I think a conservative estimate would be 15 – 20 new jobs initially.” 
 
“We are proud to be the first North American company working to establish this kind of facility in Sri Lanka,” continues Kelly, “We see a lot of opportunity and potential here thanks to Free Trade agreements with neighboring countries including India, Pakistan, Bangladesh, and Maldives. Plus, easily accessible raw materials and access to internationally and locally owned independent testing facilities will help ensure quality products.”  

The Sri Lankan facility is expected to be operational by the end of 2017. Updates, including a website, will be available by the end of 2016. 

by Elizabeth Kenward