Dhaka, Bangladesh (BBN) – Production capacity of Apex Tannery increased to 20 percent as the factory began its commercial production on new factory premises in Savar Tannery Industrial Estate.
The board of director of the tannery launched the commercial production on Thursday in the government-
Bangladesh tanneries glimmer of hope, but outlook is bleak Photo: Our world unu.edu
designated area in Savar Tannery Industrial Estate, on the outskirts of the Dhaka.
Earlier, Apex Tannery shifted to BSCIC Chamra Shilpa Nagari at Hemayetpur in Savar from the Hazaribagh in Dhaka city.
“Annual estimated production capacity of Savar Tannery is 32 million square feet (sft). Finished goat and cow leather which is an increase of about 20 percent as compared to the capacity of previous factory at Hazaribagh,” said a statement of the tannery posted on the Dhaka Stock Exchange (DSE) website on Thursday.
Each share of Apex Tannery, which was listed on the Dhaka bourse in 1985, closed at BDT 156.10 on Wednesday at DSE.
The company disbursed 40 percent cash dividend for the year ended on June 30 in 2016.
In 2015, the company disbursed 45 percent cash dividend.
The company’s paid-up capital is BDT 152 million and authorised capital is BDT 500 million, while the total number of securities is 15.24 million.
Sponsor-directors own 42.72 percent stake in the company, while the institutional investors own 16.21 percent and the general public 41.07 percent as on March 31 in 2017, the DSE data shows.
Apex Tannery was incorporated as a private limited company on 26th day of July 1976 under Companies Act 1913 and was converted into a public limited company in 1986.
The principal activities of Apex Tannery are to produce high quality leather, by using Italian chemicals, technology, complying with world fashion standards and specifications.
The company also decided to change its Registered Office to new address at Plot No XA1, XA2, XA3 and XS8, BSCIC Chamra Shilpa Nagari in Harindhara and Hemayetpur areas of Savar with immediate effect.
BBN/SA/ANS