Colgate To Set Up Factory In BD, Partnering With ACI
(MENAFN- Bangladesh Monitor) Dhaka : Colgate-Palmolive (Asia) Pte Ltd, one of the largest manufacturers and suppliers of personal care products worldwide, is going to set up a factory in Bangladesh.
The renowned global brand will make the move in partnership with local conglomerate ACI Ltd to cater to the fast-expanding consumer market.
Colgate-Palmolive (Asia), which is incorporated in Singapore and part of New York-based Colgate-Palmolive, will spend around BDT 200 crore while ACI Ltd will invest around BDT 50 crore to set up the factory to capture a significant pie in the BDT 1,000-crore oral care market.
"We are delighted to partner with Colgate-Palmolive, which is a renowned multinational company known for providing world-class oral care products across the globe," said Arif Dowla, Managing Director, ACI Ltd.
"Colgate brand is a household name in Bangladesh and is known for its high-quality products backed by research and innovations. This joint venture aims to make a meaningful impact on oral care awareness and bring smiles to many faces across Bangladesh," Dowla added.
Pradip Kar Chowdhury, Executive Director for finance and planning of ACI Ltd, said after six to seven years of negotiation, the joint venture has finally come true.
The factory would be a world-class manufacturing facility and it will maintain environmental, social and governance standards so it would take a few more months to start the construction of the factory.
"Our first choice is to build the factory at the Mirsarai Economic Zone," said Chowdhury. He hopes that the commercial operation of the factory will commence at the end of 2025.
Colgate products are already popular in Bangladesh but they are import-based.
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