RFL, the country’s leading business conglomerate, has launched a new brand, PLYMAX, to produce and market particle board. RN Paul, Managing Director of RFL Group, unveiled the brand at a function held at a hotel in Dhaka on Thursday.
Particle board has versatile uses as it is readily available, affordable and easy to carry. The main areas of use include furniture, interior decoration, kitchen cabinet, door and floor tiles.
The annual market of particle board in Bangladesh is currently around Tk 3,000 crore, with an annual growth rate of 12 percent. 70-75 percent of the particle board used in the country's market is produced locally, while the remaining 25-30 percent is imported. This particle board is mainly imported from India, China and Malaysia.
RFL is producing 'PLYMAX' branded particle board at its own factory located in Danga Industrial Park, Narsingdi. The annual production capacity of the factory is 1.3 million pieces, which is planned to be increased fivefold in the next two years. RFL's total investment in this sector is Tk 200 crore. Currently, the total workforce is 500. This business will create employment opportunities for another 1,000 people in the next two years.
Addressing the event, RN Paul said, "The demand for engineered wood products in Bangladesh is increasing rapidly. To ensure the continuity of our existing business in the furniture, door and interior sectors and to provide affordable, quality alternatives to the customers, we have brought particle board to the market. We hope that this product, like other RFL products, will be able to achieve satisfaction of the consumers."
He also said that the particle board market in Bangladesh is expanding rapidly due to increasing purchasing power of people, urbanization and various other reasons. However, there are some obstacles in the progress of this sector. If the government facilitates the import of raw materials and strengthens the quality control system, then this sector can play a bigger role in the country's economy."
Kazi Rashedul Islam, Executive Director of Banga Building Materials Limited, a concern of RFL, said, "PLYMAX particle board contains paraffin wax, which acts as a water repellent. Zero emission glue is used in it, which ensures strong bonding. PLYMAX particle board will be available nationwide through authorized dealers, retailers and the popular online site othoba.com. The maximum retail price of PLYAMX particle board per piece is Tk 1,960.
Mohammad Allama Mursed Muneem, Chief Marketing Officer at RFL Group, Md. Mehedi Hasan, Chief Operating Officer at PLYMAX particle board and Shafik Shahin, Head of Marketing at Banga Building Materials Limited were present at the event.