Ispahani teams up with Tampaco Group

FE Team | Published: October 29, 2023 23:51:10

Ispahani and Tampaco Group recently signed an agreement for a strategic partnership. (From left) Shareholder of Tampaco Syeda Adiba Hussain, Chairman of Tampaco Syed Tanvir Hussain, Managing Director of Tampaco Safius Sami Alamgir, Directors of Ispahani Emaad Ispahani and Mirza Ahmed Ispahani, and Deputy Manager Sohel Sagar were present at the signing ceremony.

Ispahani Group, Bangladesh's oldest business house, has partnered with Tampaco Group, the pioneer in the country's packaging industry, to drive the expansion of their packaging business, says a press release.
This collaboration marks a significant milestone as the Ispahani Group made an equity investment for a significant minority stake in Tampaco Foils Limited, a Tampaco Group company. The agreement was signed at the head office of UCB Investment Ltd. in Dhaka recently.
Mirza Salman Ispahani, Chairman of Ispahani Group, expressed his satisfaction with the investment, saying, "Tampaco Foils boasts a distinct presence, goodwill, and advanced technology in Bangladesh's growing packaging industry. We are committed to supporting Tampaco to develop world-class sustainable packaging solutions."
Safius Sami Alamgir, Managing Director of Tampaco Group and President of the Bangladesh Flexible Packaging Industries Association, enthusiastically welcomed Ispahani's investment, saying, "Ispahani brings invaluable market experience, financial resources, and extensive business expertise to Bangladesh's rapidly growing packaging industry. We consider Ispahani our ideal partner for the journey ahead."
"This partnership not only provides us with the means to enhance our expansion and investment initiatives in the packaging sector but also opens doors to growth in related industries," he added.
This strategic partnership opens the door to a promising future for both groups, with a shared vision of enhancing corporate governance, creating value, and nurturing sustainable growth within Bangladesh's burgeoning packaging industry, the press release added.