Business News from Sri Lanka: Teejay Lanka PLC, one of the largest knit fabric providers in South Asia, has announced an extension of its support to the University of Moratuwa for another two years, further strengthening a long-standing and mutually beneficial partnership.
A memorandum of understanding first signed in 2014 provided the now tight-knit organizations with a framework for a long-term collaborative relationship that has, among others, resulted in all Teejay’s designers being graduates of Fashion Design from the University. Job applications from graduates of the University are also given priority by the Company. Furthermore, the collaboration has resulted in strengthening research, design and technical capabilities and product development on a mutually beneficial platform.
As a result of the extension of this MoU for another two years, Teejay will continue to provide industrial placements and fostering schemes for Fashion Design and Product Development students of the University, and facilitate potential overseas exposure where necessary, for students engaged in carrying out special projects with the Company.
Additionally, Teejay will continue its support to and sponsorship of the Annual Graduation Fashion Show of the graduates of the Bachelor of Design in Fashion Design and Product Development degree and accommodate short term industry placements for foreign students through academic link programs between foreign universities and the University of Moratuwa.
In return, the University will extend its knowledge and support to strengthen the in-house design and technical expertise of Teejay through a series of workshops that will focus on a wide range of co-current industry topics while acting as advisors to the Company.
“We initiated this partnership with a strong belief in the importance of proper understanding of the current needs of professional and technical training institutions and employer businesses as well as the predictable future demands of both sectors,” Teejay Lanka CEO Mr Shrihan Perera said. “Having effectively developed that understanding over the past four years with this partnership, we look forward to continuing this mutually beneficial relationship.”
With manufacturing operations in Sri Lanka and India, Teejay is one of the region’s largest textile manufacturers and supplies fabric to some of the best international brands across the world. Teejay Lanka PLC is a public quoted company with 39 percent public ownership. The company is backed by Sri Lanka’s largest apparel exporter, Brandix Lanka which has a 33 percent stake and Pacific Textiles of Hong Kong which owns 28 percent of the company.
An ISO 9001:2015, ISO 14001:2015 and OHSAS 18001:2007 compliant company and the first in the industry to develop green fabric, Teejay has been listed on the Colombo Stock Exchange (CSE) since 2011 and was included in the S&P Top 20 Index in Sri Lanka. The Company has also been named among the Forbes ‘200 Best under a Billion in Asia’ and been recognized as the ‘International Textile Firm of the Year’ and the ‘International Dyer and Finisher’ by World Textile Institute, London.