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The Financial Express
Swasti Lankabangla Swasti Lankabangla

Olympic Industries to import brand new machinery worth Tk 49.26m


Olympic Industries to import brand new machinery worth Tk 49.26m

The board of directors of Olympic Industries has decided to import a brand new complete set of machinery, equipment and spares from China at an estimated total cost of US$ 579,600 equivalent around Tk 49.26 million.

The company will import these (machinery, equipment and spares) for installation at its biscuits and confectionery factory at Sonargaon Upazilla in Narayangonj for making PET Sheet and PET Tray for packing of Biscuits and Confectionery items produced by the company, according to an official disclosure on Monday.

The name of item are: PET Co-Extrusion Sheet Extrusion Line complete with Extruder, Preheating system, Master Batch, Dousing unit, Glass heater, Encoder motor, Inverter, Touch screen etc. at an estimated cost of $ 4,33,070 equivalent around Tk 36.81 million. Capacity: 480-500 Kgs of final PET Sheet of 0.33 thicknesses per hour.

Fully automatic three station Thermoforming machine complete with Mould, Electric lifter, Clamping cylinder, Main Servo motor with drive sheet feeding, forming and cutting, Stacking, Vacuum unit for forming etc. at an estimated cost $ 146,530 equivalent around Tk 12.45 million.

Each share of the company, which was listed on the Dhaka Stock Exchange (DSE) in 1989, closed at Tk 166.20 on Monday, gaining 1.40 per cent over the previous day.

The company disbursed 50 per cent cash dividend for the year ended on June 30, 2019.

The company’s earnings per share (EPS) stood at Tk 7.73 in nine months for July 2019-March 2020 as against Tk 6.97 for the same period of the previous year.

The company’s paid-up capital is Tk 1.99 billion and authorised capital is Tk 2.0 billion, while the total number of securities is 199.93 million.

The sponsor-directors own 27.73 per cent stake in the company, institutional investors 16.97 per cent, foreign 39.73 per cent and the general public 15.57 per cent as on September 30, 2020, the DSE data shows.

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