JAT Holdings delivers on key IPO commitment, launches cutting-edge manufacturing facility in Bangladesh

* JAT Holdings delivers on key IPO commitment, launches cutting-edge manufacturing facility in Bangladesh

Tue, Nov 1, 2022, 09:42 am SL Time, ColomboPage News Desk, Sri Lanka.

Nov 01, Colombo: Fulfilling its IPO objective and keeping its pledge to investors, JAT Holdings PLC recently unveiled and commissioned into operation an end-to-end manufacturing, warehousing and laboratory facility in Bangladesh.

Strategically located, the new plant offers efficient and easy access to JAT’s two key markets in Bangladesh, Dhaka and Chittagong, together with quick and easy access to the Port, further consolidating operations, and bringing JAT Holdings closer to its goal of emerging as an internationally acclaimed leader in wood coatings.

JAT’s new manufacturing facility in Bangladesh was officially unveiled and inaugurated at a special opening ceremony held on the 22nd of September 2022, at the premises in Birulia, Savar. JAT Holdings’ Group CEO/Executive Director, Nishal Ferdinando, Director – Sales and Technical, Wasantha Gunaratne, Country Head – Bangladesh, Ranga Abeyakoon, and General Manager – Marketing, Dilshan Rodrigo, were among the members of JAT’s senior management team who were present at the event.

Speaking at the launch of the new manufacturing facility, CEO, Nishal Ferdinando said, “This is a beginning of a great journey. We’ve embarked on a historical journey between two countries; SL and Bangladesh have come together for the first time in history to manufacture world-class wood coating products. We are focusing on backward vertical integration as a strategic move as this is the key to offering competitive products in the Bangladesh market. Furthermore, this manufacturing facility will soon start contributing to the economic growth and vision of Bangladesh, which includes sustainable growth in GDP, employment and exports. JAT Holdings PLC had a vision of expanding its footprint in Bangladesh and this is our first initiative through our vision of ‘expanding our footprint across South Asia’. This is a proud moment for JAT Holdings PLC, as this is our first fully-owned and self-operated manufacturing plant overseas. Therefore, this milestone marks the beginning of JAT’s journey towards emerging as a dominant brand in South Asia.”

Owned and operated by Asia Coatings (Private) Limited, a fully-owned subsidiary of JAT Holdings PLC, the new manufacturing facility will manufacture wood coating products under the renowned Sayeralck and JChem brands. Equipped with a climate-controlled environment, JAT’s new facility is capable of producing PU, UV and water-based coatings that meet international standards and requirements. Capable of meeting end-to-end production needs, the facility is also equipped with a modern laboratory, product sampling facility and a suite of offices housing dedicated, fully-fledged support teams across departments such as HR, finance, research and IT.

“This is a major milestone for Asia Coatings in its mission to conquer the Wood Coating market in Bangladesh,” said Ranga Abayakoon, Country Head – Bangladesh, discussing the new facility, “In addition to our business vision of expanding our footprint as the market leader, this facility will help uplift the lives of many Bangladeshis, as we aim to provide over 100 new immediate job opportunities through this facility, and our wider operations in Bangladesh. It is also a great pride, and a strategic advantage to note that our manufacturing facility includes state-of-the-art warehousing, a packaging plant, an experience centre and a training centre, empowering us to provide truly end-to-end solutions.”

JAT’s journey in Bangladesh began in 2003. Since then, the Conglomerate has grown to become a market leader in that country, a position it has enjoyed for over a decade. As a direct result of JAT Holdings’ investment and impetus in Bangladesh, the nation has become a global hotspot for manufacturing the best export-quality furniture. JAT has established a strong network, through long-term partnerships, with leading Bangladeshi businesses and furniture manufacturers, and has even sponsored the Chattogram Challengers in the 2019 Bangladesh Premier League (BPL) Cricket Tournament, further establishing itself as a reputed business in the country.

Placing emphasis on JAT’s journey in Bangladesh, and how the Conglomerate has revolutionized the wood coating industry, Wasantha Gunaratne, Director Sales and Technical said, “When JAT entered the market back in 2003, the wood coating market was very primitive in Bangladesh. We introduced the presently used PU coating technology to a market which was previously using cloth polish. Thus, we are proud to have been pioneers in transforming the wood coating industry, both in Bangladesh and Sri Lanka.”

Since its founding in 1993, JAT Holdings has established itself as a market leader in Sri Lanka for wood coatings and as one of the country’s most promising conglomerates. This is further attested to by accolades such as being ranked amongst Sri Lanka’s ‘Top 100 Most Respected Companies’ by LMD for four years consecutively and also ranking among the ‘Top 20 Conglomerate Brands’ by Brand Finance.

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