MI Cement Factory wins gold trophy for export

FE Report MI Cement Factory Ltd (Crown Cement), one of the largest enterprises in the cement industry, has won National Export Trophy (Gold) for the second consecutive year for their extraordinary contribution to the country's economy through foreign currency earnings. Prime minister Sheikh Hasina handed over the trophy Wednesday to the company's Managing Director Khabiruddin Mollah at a function at Osmani Memorial Auditorium in the capital, organised by Ministry of Commerce and Export Promotion Bureau (EPB). A total of 45 businessmen received trophies in recognition of their outstanding performance in exports in FY 2009-10. Crown Cement was the first Bangladeshi cement brand to explore export opportunities for cement in 2003. Crown in 2010-11 cement earned $10.2 million, almost double the amount in FY 2009-10. Company sources said the major export market of Crown cement is the north-eastern states of India including Tripura, Meghalaya, eastern and western region of Assam, West Bengal and Monipur. The company also eyes export market for cement in Nepal. In 2008 Crown Cement exported 27,115 tonnes of cement while the export rose to 68,100 tonnes in 2009 and 120,970 tonnes in 2010 showing a trend of tremendous growth in the export performance.