Prominent Denim Fabric Exporter Shasha Denims purchased an 18 percent stake from the Italian subsidiary EOS Textile Mills, a Bangladesh based firm, for Tk 21.79 crore and 98 percent ownership. According to the Dhaka Stock Exchange (DSE), Shasha Denim has obtained two plots of 4,005.12 square meters from the Bangladesh Export Processing Zones Authority for potential expansions in the Dhaka Export Processing Zone Extension Area.
According to Managing Director Shams Mahmud, Shasha Denim recently purchased EOS, the subsidiary of the Italian group Berto Industria Tessile, Paying Tk 125 core “Also the EOS is the largest Italian investment in Bangladesh and it is a matter of pride that a Bangladeshi company has acquired it which shows how far we have come,” said Mahmud.
With the acquisition, Shasha denim is going to offer a wider range of fabrics and they are also focusing on making high-end denim fabrics using Italian know-how and techniques, which will be good for the shareholders.
