Diesel & Motor Engineering PLC, commonly abbreviated as DIMO, is a Sri Lankan conglomerate company. The company engaged in vehicle sales, after-sales services, retail, construction and logistics solutions and agriculture sectors. The company was founded in 1939 and was listed on the Colombo Stock Exchange in 1964. DIMO is one of the LMD 100 companies, a list of quoted companies in Sri Lanka by revenue and ranked 39th in the 2020/21 edition.[2]
History
The company was founded in 1939 by Stephen Peries, Pandithage Don Alexander, Cyril Algama and Harold Algama.[3] In 1945, the company was incorporated as a limited liability company. In 1961, DIMO started its partnership with Tata Motors. The company was listed on the Colombo Stock Exchange in 1964. DIMO expanded its business to Myanmar by establishing DIMO Lanka Company Limited in 2017. In 2018 the company ventured into the agricultural sector with the acquisitions of PlantChem (Pvt) Ltd and Plant Seed (Pvt) Ltd. These companies were DIMO's first acquisitions in its history.[1]