COLOMBO : JAT Holdings Limited, began its manufacturing operations ahead of schedule in Bangladesh further boosting its already established presence in the country.
Following the recent Initial Public Offering (IPO), JAT Holdings is ahead of schedule to fulfill 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 manufacturing 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% of total revenue in Bangladesh, enabling an improvement in the gross profit.