Akij Group

Last updated
Akij Group
Company type Public
Industry
FoundedJanuary 1, 1940;84 years ago (1940-01-01)
Phultala, Khulna, Bangladesh
Founder Sheikh Akijuddin
Headquarters
198, Akij House, Bir Uttam Mir Showkat Sarak, Tegaon Sarak, Tejgaon, Dhaka – 1208,
,
Bangladesh
RevenueIncrease2.svg US$1.5 billion (2017)
Number of employees
70,000
Website www.akij.net

Akij Group is a Bangladeshi industrial conglomerate founded by Sheikh Akijuddin in 1940. [1] The industries under this conglomerate include textiles, tobacco, food and beverage, cement, ceramics, printing and packaging, pharmaceuticals, consumer products etc.

Contents

They are primarily known for their drink products known as Mojo, Speed and Frutika.

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. [2] [3]

In 2009, [4] [5] 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. [2] In 2018, Akij sold their tobacco division to JTI for $1.47 billion. [6] It was the biggest ever single foreign direct investment in Bangladesh. [7]

Sister projects

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

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References

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


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