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Wata Chemicals, a listed company, inaugurated the commercial operation of its new sulfuric acid unit (Unit-2) on Saturday to meet the growing demand of the products.
Textiles and Jute Minister Golam Dastagir Gazi inaugurated the new unit at its factory in Narayanganj at Rupgonj.
The new unit has a capacity to produce 30,000 metric tonnes of sulfuric acid per year. Currently, the company produces 18,000 metric tonnes sulfuric acid per year.
A total of 48,000 metric tonnes of sulfuric acid will be produced in the existing and new units.
Engineer Mozaffar Hossain, MP of Jamalpur-5 constituency, Alhaj Shahjahan Bhuiyan, chairman of Rupganj upazila council, Syeda Ferdousi Alam Nila, Vice Chairman of Upazila Parishad, Tofail Ahmed Alamash, Chairman of Murapara Union Parishad; Chairman of Wata Chemicals Mosaddek Ul Alam; Director Nazrul Islam, Director HM Abdullah, Director Mahmud Hasan, director Subrata Pal, Ziaul Haq and the company's chief financial officer and Ali Ahsan were present at the event, among others.
Each share of the company, which was listed on the Dhaka bourse in 1992, closed at Tk 526.10 on Wednesday last at the Dhaka Stock Exchange (DSE).
Its shares traded between Tk 262.50 and Tk 623 in the last one year at the prime bourse.
The company's earnings per share (EPS) for July-December 2018 stood at Tk 5.56 as against Tk 1.31 for July-December 2017.
The company disbursed 10 per cent cash and 30 per cent stock dividend for the year ended on June 30, 2018.
Its paid-up capital is Tk 118.58 million and authorised capital is Tk 150 billion while the total number of securities is 11.85 million.
The sponsor-directors own 36.41 per cent stake in the company, while institutional investors own 38.02 per cent and the general public 25.57 per cent as on January 31, 2019, the DSE data shows.