HIRATSUKA, Japan—Yokohama TWS Sri Lanka has been honored for its achievements in exporting for the second consecutive year.
The unit of Japan's Yokohama Rubber Co. Ltd. was recognized with the "Best Exporter in the Dry Rubber Products Category" at the 25th Presidential Export Award for 2022-23, after taking the honor for 2021-22 as well.
The PEA is the highest recognition given by Sri Lanka's head of state to "exporters who have been fostering growth and made outstanding contributions to the country's export sector and economic advancement," Yokohama TWS said in a news release.
Sanjay Melvani, Yokohama TWS managing director for Sri Lanka, said the firm was proud to be recognized for its "unwavering commitment to boosting our country's exports, especially during this unprecedented period of social, political, and financial uncertainty."
"Despite facing challenges, winning the award for two consecutive financial years in the Dry Rubber Products Category highlights the drive and hard work of our team," Melvani said.
Award winners are evaluated based on factors such as export turnover, export proceed repatriation, net-foreign exchange earnings, market diversification, product diversification, value addition, innovations and sustainability efforts.
Yokohama TWS designs and produces tire and wheel solutions for agriculture, construction, material handling and two-wheeler markets. It includes the Trelleborg, Mitas, Maximo, Cultor and Interfit brands.
The business was boosted with the acquisition of the Trelleborg Wheel Systems business, a deal that closed in May. In 2022, the business generated sales of over $1.3 billion, and it employs more than 6,600 people in 42 countries.
