Munchee enters Bangladesh; sets up a $ 3 m factory
Friday, 14 November 2014 01:23
Plans to expand investment up to $ 10 m to strengthen dominance in the region
Ceylon Biscuits Ltd. (CBL) has set up the first Sri Lankan-owned confectionery manufacturing plant overseas in Bangladesh.
The factory, located 35 km out of Dhaka City in the Gazipur District Sreepur Mauna, had its soft inauguration recently.
Selecting Bangladesh and this initiation of this project was the decision of CBL Chairman Mineka Wickramasingha, who during a visit a few years ago with the Foreign Minister Prof. G.L Pieris identified the potential in providing the Bangladeshi consumer a good quality product in the way of CBL Munchee biscuits and chocolates.
The company has invested around $ 3 million in its initial phase and plans to invest up to $ 10 million in its expansion programs aiming at strengthening its dominance in the region.
Deputy Minister of Finance and Minister for External Affairs Dr. Sarath Amunugama and the Secretary Finance Dr. P.B. Jayasundera in the presence of senior officers from the Ministry of Finance and Treasury attended the occasion on the invitation of the Chairman. The occasion was also attended by Group Managing Director Sheamalee Weerasekera.
The same quality and taste of that manufactured in Sri Lanka which is also exported to almost 55 countries in the world is maintained in the Bangladesh factory as well, said Ceylon Biscuits Bangladesh Ltd. Managing Director Srian De Alwis.
He also expressed his confidence in following the success of the parent company CBL due to the acceptance of the products manufactured in Bangladesh by the large consumer population in the country.