Dhaka, Bangladesh (BBN)-Olympic Industries, a listed company, has decided to setup a new line for producing new premium varieties of cookies, said an official disclosure on Wednesday.
“The board of directors of the company has decided to import a new cookie line, complete with ancillary and packing machinery, from Italy and India,” said the disclosure.
The company will setup the new line with at an estimated cost of BDT 133 million to be jointly funded with cash and bank financing, to produce new, premium varieties of cookies, it said.
This new line, the company’s ninth, will have an estimated annual capacity of 7,200 metric tons, said the company in the disclosure.
The company was listed on the Dhaka bourse in 1989.
The food and aliied sector company belongs to the “A” category.
The sponsor-directors own 31.51 per cent stake in the Olympic Industries, while institutional investors own 20.49 per cent, foreign investors 36.13 per cent and the general public 11.87 per cent as on March 30, 2016.
Tuesday’s closing price of each share of Olympic Industries was BDT 302.90.