Fu-Wang Food resumes partial production after worker unrest

Date:

Post View:

Fu-Wang Food resumes partial production after worker unrest

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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

spot_img

Popular

More like this
Related

Five-year 3R plan to revive capital market

The government has approved a five-year reform plan aimed...

GBB Power to build 5MW solar plant

Listed power and energy company GBB Power Ltd’s subsidiary...

BSEC fines five Regent Textile directors Tk 100 Cr

The Bangladesh Securities and Exchange Commission (BSEC) has fined...

BSEC conditionally approves sale of 30% Dominge Steel shares

The Bangladesh Securities and Exchange Commission (BSEC) has conditionally...