Anwar Galvanizing to enhance production

Anwar Galvanizing, an engineering sectors' listed company has planned to double its production capacity by installing the latest technology, according to a web post on Dhaka Stock Exchange (DSE) Sunday.

"The company has informed that the board of directors has decided to import and install the latest technology in casting induction furnace to double capacity of the plant and at the same time induction furnace technology will allow re-use of wastage up to 80 per cent," said the web post.

The machine is also going to be imported by June, 2015. The estimated landed cost of the induction furnace is Tk 6.20 million and the capacity of the plant is as follows: Existing (F/G): 1,160 MT/year and New (F/G): 1,880 MT/year, said the web post.

Following the news, the company's share price jumped 7.96 per cent to close at Tk 36.4 on Sunday.

Of the total shares - 34.95 per cent held by sponsor-directors, 17.92 per cent by institutional investors and 47.13 per cent held by public, according to DSE website information.

The company was listed in the Dhaka bourse - DSE in 1996. The company belongs to the engineering sector in the category of 'B'.

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