Akij Group Explained

Type:Public
Founded:
Phultala, Khulna, Bangladesh
Founder:Sheikh Akijuddin
Hq Location City:198, Akij House, Bir Uttam Mir Showkat Sarak,Tegaon Sarak, Tejgaon, Dhaka – 1208,
Hq Location Country:Bangladesh
Revenue: US$1.5 billion (2017)
Num Employees:70,000

Akij Group is one of the largest Bangladeshi industrial conglomerates.[1] The industries under this conglomerate include textiles, tobacco, food and beverage, cement, ceramics, printing and packaging, pharmaceuticals, consumer products etc. In 2009,[2] [3] Akij Group paid 390 million euros in tax, making it the biggest local tax-payer, contributing two per cent to the nation's entire budget. Akij also provides services in healthcare, information and communication technology. Its turnover in 2009 was 89 billion taka. In 2018, Akij sold their tobacco division to JTI for $1.47 billion.[4] It was the biggest ever single foreign direct investment in Bangladesh.[5]

History

Akij Group was established in the 1950s by industrialist Sheikh Akijuddin as a cigarettes manufacturing business, before moving into other areas of business Like Rice, Jute, Paddy etc.[6] [7]

Sister projects

In August 2018, Japan Tobacco acquired Akij's tobacco business for US$1.5 billion.[8] [9]

External links

Notes and References

  1. News: Sajjadur Rahman . 2009-06-24 . Akij Group to branch out into new avenues . The Daily Star . 2016-10-29.
  2. News: Akij to invest Tk 1,500cr in three plants in its economic zone . The Daily Star . 2016-09-23 . 2016-10-29.
  3. News: Sajjadur Rahman . 2010-12-09 . Big players buy cargo ships . The Daily Star . 2016-10-29.
  4. Web site: JTI group acquires tobacco business of Akij Group in Bangladesh. Japan Tobacco International.
  5. News: 2018-11-30. Japan Tobacco closes $1.47b acquisition of Akij venture. 2020-07-01. The Daily Star. en.
  6. News: Sajjadur Rahman . 2010-12-19 . Akij goes green . The Daily Star.
  7. News: Akij Gr set to overtake RAK Ceramics to become country's biggest tiles maker . The Financial Express . Dhaka . 2011-12-05.
  8. News: Japan Tobacco to Acquire Bangladesh Company for $1.5 Billion. Bloomberg News. 2018-08-26.
  9. News: Japan Tobacco buying Bangladesh Akij's tobacco business for $1.5.... Reuters. 2018-08-26. en-US.
  10. News: Thousand bidi workers lose job as Akij factory closes suddenly . The Daily Star . 2016-04-04 . 2016-10-29.
  11. News: No fly-ash in Akij cement: Official . The Daily Star . 2013-10-10 . 2016-10-29.
  12. News: Akij celebrates Independence Day . The Daily Star . 2012-05-23.
  13. News: Gazi Towhid Ahmed . 2013-10-04 . Akij Food brings in German technology to produce juice . The Daily Star . 2016-10-29.
  14. Web site: AFSC . Akij Foundation School & College . 2021-04-04 . 2020-04-17 . https://web.archive.org/web/20200417123634/http://www.akijfoundation.com/ . dead .
  15. News: Akij secures $43m from HSBC to expand particle board business . The Daily Star . 2015-09-23 . 2016-10-29.
  16. News: Akij Textile Mills Ltd. .

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