JAT Holdings Ltd, involved in finishing and furnishing, said this week that it has seen immense organisational progress fueled by the firm’s intention to begin its manufacturing operations in Bangladesh further boosting its already established presence in the country.
A company media release said that following the recent Initial Public Offering (IPO), JAT Holdings is ahead of schedule to fulfil its near-term objectives, having already secured the required premises and factory for manufacturing.
The manufacturing facility is located at the proposed Savar Division of the Dhaka District, a central location for carrying out JAT’s business in Bangladesh. Subsequently, the company has also made way to ship necessary equipment which is crucial for the manufacture of fast-moving wood coatings. Thus, the revenue and subsequent results from manufacturing which was planned for Q1 2022 will be brought forward to Q3 2021 as wood coatings account for 70 percent of total revenue in Bangladesh, enabling an improvement in the gross profit, the release said.
JAT said it has achieved its budgeted targets from Bangladesh for the first four months of the year amounting to Rs.445 million. This is largely due to the high market demand from specific industries and due to the brand loyalty for OEM in Bangladesh from reputed firms such as Partex Furniture, Hatil Complex Ltd, Nadia Furniture Ltd, Brothers Furniture Ltd and Akthar Furniture Ltd, etc.
“With a proven track record of over 10 years, JAT Holdings is also the market leader in Bangladesh and shows no signs of slowing down in transforming the regional industry, for years to come,” the release said.
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