Listed food manufacturer Fu-Wang Food Ltd. has resumed production on a limited basis after a prolonged shutdown caused by worker unrest, the company said in a disclosure to the Dhaka Stock Exchange (DSE) on Sunday.
The disclosure came in response to a DSE query issued on June 22 seeking an update on the company’s production status.
Fu-Wang Food said production has restarted intermittently and has not yet returned to full-scale operations. The company added that factory activities were disrupted for several days due to labour unrest, but improving conditions have enabled a gradual resumption of manufacturing.
Established as a food processing company, Fu-Wang Food is one of the country’s leading producers of confectionery products, including cakes, bread, biscuits, toast, snacks and instant noodles. The company also manufactures chocolates, chocolate-coated products and wafer bars through a separate division, while its beverage unit produces bottled drinking water and carbonated soft drinks.
Market analysts said a gradual normalization of production could help improve the company’s business performance and restore investor confidence.
Fu-Wang Food was listed on the stock market in 2000 and has a paid-up capital of Tk 1.1084 billion. Public investors, excluding sponsors and directors, hold 92.15% of the company’s shares. The stock closed at Tk 12 per share on Thursday.
