Sri Lanka’s JAT Holdings launches manufacturing facility in Bangladesh. - Opportunity Sri Lanka
Sri Lanka’s JAT Holdings launches manufacturing facility in Bangladesh.

Sri Lanka’s JAT Holdings launches manufacturing facility in Bangladesh.

The Morning: JAT Holdings PLC announced that it fulfilled its initial public offering (IPO) objective and kept its pledge to investors as it recently unveiled and commissioned into operation, an end-to-end manufacturing, warehousing, and laboratory facility in Bangladesh.
The new plant offers efficient and easy access to JAT’s two key markets in Bangladesh – Dhaka and Chittagong – together with access to the port, further consolidating operations.
JAT’s new manufacturing facility in Bangladesh was officially unveiled and inaugurated at a special opening ceremony held on 22 September 2022, at the premises in Birulia, Savar. JAT Holdings Group CEO/Executive Director Nishal Ferdinando, Director – Sales and Technical Wasantha Gunaratne, Country Head – Bangladesh Ranga Abeyakoon, and General Manager – Marketing Dilshan Rodrigo, were among the members of JAT’s senior management team who were present at the event.
Speaking at the launch of the new manufacturing facility, CEO Nishal Ferdinando said: “This is the beginning of a great journey. We’ve embarked on a historical journey between two countries; SL and Bangladesh have come together for the first time in history to manufacture world-class wood coating products. We are focusing on backward vertical integration as a strategic move as this is the key to offering competitive products in the Bangladesh market.
“Furthermore, this manufacturing facility will soon start contributing to the economic growth and vision of Bangladesh, which includes sustainable growth in gross domestic product (GDP), employment, and exports. JAT Holdings PLC had a vision of expanding its footprint in Bangladesh, and this is our first initiative through our vision of ‘expanding our footprint across South Asia’. This is a proud moment for JAT Holdings PLC, as this is our first fully-owned and self-operated manufacturing plant overseas. Therefore, this milestone marks the beginning of JAT’s journey towards emerging as a dominant brand in South Asia.”
“This is a major milestone for Asia Coatings in its mission to conquer the Wood Coating market in Bangladesh,” said Country Head for Bangladesh Ranga Abayakoon, discussing the new facility, further adding: “In addition to our business vision of expanding our footprint as the market leader, this facility will help uplift the lives of many Bangladeshis, as we aim to provide over 100 new immediate job opportunities through this facility, and our wider operations in Bangladesh.
“It is also a great pride, and a strategic advantage to note that our manufacturing facility includes state-of-the-art warehousing, a packaging plant, an experience centre and a training centre, empowering us to provide true end-to-end solutions.”

OSL take:

The expansion of a Sri Lankan business into Bangladesh is indicative of the strength and growth of Sri Lanka’s private sector as well as the business conducive environment in the country despite the challenging economic conditions faced by the island at present. Many local businesses have recorded growth and profits while the country’s manufacturing and exports industries have shown a steady growth momentum. The strength and expansion of local businesses serve as a confidence booster for foreign businesses/investors to explore the growing opportunities in Sri Lanka. The country’s geographical positioning in the Indian Ocean and the many trade agreements as well as trade concessions enjoyed by Sri Lanka also serve to boost Sri Lanka’s image as an emerging business destination in the South Asian region. Foreign businesses/investors could therefore confidently explore the expanding business/investment opportunities in Sri Lanka. They could also look at forming partnerships or joint ventures with local businesses to expand operations locally and internationally.

Share this:

Article Code : VBS/AT/10112022/AT_8

    For More Info and Help

    Leave a Comment