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Sinobangla moves to raise production capacity

FE Report | Published: January 06, 2019 14:42:22 | Updated: January 09, 2019 11:02:01


Sinobangla Industries has taken a initiative to enhance its production capacity by about 150 tonnes per month.

Two floors of the factory will also be upgraded to have clean room facilities.

The total estimated cost of the expansion would be about Tk. 150 million (15 crore), which will be financed with funds partially from its internal source as well as bank loans.

The company's board of directors took the decision of increasing production capacity by spending the said amount of fund, a company disclosure said.

To achieve additional production, the board decided to procure capital machinery.

The machinery is as follows-looms: 20 sets, needle looms: six sets, sewing machine: 35 sets, twisting machine, bale press, air wash machine, loop cutting machine, liner shaping machine, baffle punching machine: one set each, evaporate air cooling system: one unit, fabric cutting machine and shrink wrapping machine: two sets each.

Apart from the equipment, a few other ancillary equipment/accessories would also be produced and investment would be made for upgrading two floors of the factory to the level of clean room facilities.

Sinobangla Industries, presently an 'A' category company, was listed with the stock exchanges in 1999.

The company's sponsor-directors hold 30.61 per cent shares, institutes 6.25 per cent, foreign shareholders 9.58 per cent and general shareholders 53.56 per cent as of November 30, 2018.

The company's share price closed at Tk 54.70 on Thursday with a rise of 3.20 per cent or Tk 1.70 on the Dhaka Stock Exchange (DSE).

mufazzal.fe@gmail.com

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