Olympic Industries, a listed company, has taken a set of decisions, including imports of machinery, to boost its production capacity as the demand for its products is on the rise.
The company will import production line accessories to increase the production of corrugated cartons of various sizes by 102 million pieces a year, according to a filing with the Dhaka Stock Exchange (DSE).
The import and installation of the new line with some other local items, including slitter, stacker, overhead crane, trolley, etc. will cost around Tk 110 million and it will help meet the shortage of cartons, said the filing posted on the DSE website on Thursday.
For installation of the 2nd baked snacks processing line at snacks manufacturing unit of the company at Kutubpur in Narayanganj, the cost will stand at Tk 31.10 million.
"This 2nd baked snacks processing line will ensure additional production of 200 tonnes of baked snacks per month to meet growing demand for snacks of the company," said the disclosure.
As per the decision of the company's board, Olympic Industries will also start the 2nd phase of civil construction and work of a 5-storey extension building.
Also, the company will execute an agreement with Lucerne Cocoa & Chocolate Products Ltd. over two years from September 1, 2022 to August 31, 2024 to purchase chocolate products from them for sales in its own brand name.
Olympic Industries, presently an 'A' category company, was listed on the stock exchange in 1989.
The company's sponsor-directors own 37.34 per cent stakes, institutes 20.27 per cent, foreigners 25.19 per cent and general shareholders 17.20 per cent as on July 31, 2022.
The company's share price closed at Tk 142 each on Thursday, with a rise of 3.65 per cent or Tk 5.0 on the DSE.
