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Walton Plans to Increase Fastener Production In Response to Growing Demand
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2018-11-30
The Bangladesh-based multinational electronics and electrical company Walton has recently planned to increase its fastener production in anticipation of further growing demand for locally made fasteners.
According to a press release, Walton will install advanced machines at its fastener manufacturing facility in Gazipur, and aims to triple the production capacity. The workforce of the factory will be also expanded.
Earlier, a major portion of the local demand for fasteners were met by imported items, which led to the country spending a lot of foreign currency to pay import bills. Moreover, both importers and end-users had to wait for months to get the imported items. However, this import dependency has since been reduced following the start of Walton’s local production of fasteners in 2017.
Walton has already begun supplying a large volume of fasteners to various local manufacturing industries including furniture, bicycle, motorcycle, and home and kitchen appliance manufacturing units. Moreover, Walton has already discussed the export of its fasteners to other overseas companies.
2018-12-03
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