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The board of directors of Olympic Industries has approved the import of three sets of new machinery to expand its carton production and food processing capacity.
The decision was taken at a board meeting held on Saturday, according to a filing with the DSE.
The company will import two sets of capital machinery for its carton production plant from Cangzhou Rupali Import and Export Co. Ltd. of China.
The machines, equipped with standard accessories, will have a combined annual production capacity of 315.36 million carton pieces, with each set capable of producing 157.68 million pieces per year. The equipment also supports a maximum printing area of 900 mm by 2,050 mm. The total cost of the two machines, including freight charges, is estimated at $500,000, equivalent to about Tk 61.35 million.
The board also approved the import of an 'egg washing and breaking machine' for its food processing operations. The equipment will be sourced from Hong Kong Tech Yun Industrial Limited at a cost of $46,000, including freight charges, equivalent to around Tk 5.64 million.
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