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Industrial Asphalts (Ceylon) Plc – IAC – was established in 1964 by a dynamic and foresighted group of Sri Lankan entrepreneurs and professionals. They had an audacious dream of converting an industry that was essentially dominated by multi national companies to a Sri Lankan capability. IAC was the first 100% Sri Lankan owned entity to produce specialist bituminous products in the post independent environment. In August 2021, IAC exited its legacy Paints & Coatings Division through a trade sale to be better positioned to capture emerging opportunities. Today, IAC has established itself as an investment holding company with interest in various ventures and investments including but not limited to the bitumen space.