ACI partners with Colgate-Palmolive to launch new line of oral care products

ACI Ltd and Colgate-Palmolive (Asia) Pte Ltd have launched a joint venture to create Colgate-Palmolive ACI Bangladesh Pvt Ltd, a business that would manufacture oral care and personal care products in Bangladesh.

ACI Ltd board of directors has approved the joint venture agreement, subject to regulatory formalities.

The joint investment is expected to be approximately Tk200 crore, with ACI Ltd investing Tk50 crore over three years for a 24% holding in the joint venture.

Pradip Kar Chowdhury, CFO of ACI Ltd, said that it would take around two years to start commercial operations, and the parties are considering setting up the plant in Chittagong’s Mirsarai.

ACI Ltd is an “A” category company listed on the Dhaka Stock Exchange, with sponsor-directors holding 36.07% shares, institutes holding 41.27%, and general investors holding 22.66% as of March 31, 2023.

Its share price has been stuck at the floor price of Tk260.20 since November 20, 2022.

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