Bangladesh’s leading Beximco Group announced it will set up a plant in Detroit, U.S., to make masks as demand for protective gear in the U.S.The Dhaka based company, which started selling the generic version of Gilead Sciences Inc.’s antiviral drug in the South Asian nation, announced it would invest $20 million in the Detroit plant. The company will also invest $30 million on a plant at home.The company will initially supply N95 masks in Detroit before expanding to other parts of the U.S.
Beximco’s textile unit is tapping new opportunities as luxury brands from New York to Paris scrap garment orders amid the pandemic. The company expects the Detroit plant to be ready in nine months, while the one in Bangladesh will start production in four months. Beximco said Hanesbrands Inc. bought 6.5 million personal protective equipment from the company to supply to the Federal Emergency Management Agency on May 25.
Beximco Group is a multinational conglomerate holding company headquartered in Dhaka, Bangladesh. It was founded in the 1970s. Beximco is Bangladesh's largest conglomerate, with the largest market capitalisation on the country's stock market. It has retail outlets in South Asia and Eastern Europe. Beximco operates one of the largest integrated textile production businesses in Asia. It is also a major global exporter of Jute yarn. Its chief manufacturing base is the Beximco Industrial Park in Gazipur, Bangladesh. Beximco Pharma, the group's pharmaceutical producer, was the first Bangladeshi firm to list on the London Stock Exchange. Beximco Pharmaceuticals is Bangladesh’s only US FDA Certified company with “World Class manufacturing and R&D facilities, with a global footprint in 50 countries. It became the first company in the world to launch a generic version of Remdesivir, which has been cleared by the US FDA.
Information source:
Detroit to Get Mask Factory With Investment From Bangladesh
Beximco’s textile unit is tapping new opportunities as luxury brands from New York to Paris scrap garment orders amid the pandemic. The company expects the Detroit plant to be ready in nine months, while the one in Bangladesh will start production in four months. Beximco said Hanesbrands Inc. bought 6.5 million personal protective equipment from the company to supply to the Federal Emergency Management Agency on May 25.
Beximco Group is a multinational conglomerate holding company headquartered in Dhaka, Bangladesh. It was founded in the 1970s. Beximco is Bangladesh's largest conglomerate, with the largest market capitalisation on the country's stock market. It has retail outlets in South Asia and Eastern Europe. Beximco operates one of the largest integrated textile production businesses in Asia. It is also a major global exporter of Jute yarn. Its chief manufacturing base is the Beximco Industrial Park in Gazipur, Bangladesh. Beximco Pharma, the group's pharmaceutical producer, was the first Bangladeshi firm to list on the London Stock Exchange. Beximco Pharmaceuticals is Bangladesh’s only US FDA Certified company with “World Class manufacturing and R&D facilities, with a global footprint in 50 countries. It became the first company in the world to launch a generic version of Remdesivir, which has been cleared by the US FDA.
Information source:
Detroit to Get Mask Factory With Investment From Bangladesh
Comments
Post a Comment