Dhaka, Bangladesh (BBN)– ACI Limited has informed that ACI Motors Limited, a subsidiary of ACI having 66.50 per cent stake, signed a business deal with India Yamaha Motors Private Ltd, said a statement posted on the Dhaka Stock Exchange (DSE) on Wednesday.
The agreement was signed recently for three years terms—2016, 2017 and 2018 with a total sales target of BDT 6,347 million.
“Under this agreement, ACI Motors will sell and distribute Yahama brand motorcycles and parts in its Bangladesh territory with an estimated sales target of BDT 502 million, Tk 2,445 million and BDT 3,400 million during the year 2016, 2017 and 2018 respectively,” said the statement.
ACI Limited was listed on the Dhaka bourse 1976. The pharmaceuticals sector company belongs to the “A” category.
The company’s share was traded between BDT 448 and BDT 459 on Tuesday, before closing at BDT 445.60.
On the other hand, Yamaha Motor made its initial foray into India in 1985 as a joint-venture.