Technology product manufacturer Walton Digi-Tech Industries Limited is going to be merged with electronics giant Walton Hi-Tech Industries PLC, listed on the capital market in engineering sector.
Centring the merger proposal, an agreement was signed between Walton Hi-Tech Industries PLC and Walton Digi-Tech Industries Limited on Wednesday, said a press release. The agreement for the merger proposal was endorsed at the 46th board of directors meeting of Walton Hi-Tech Industries PLC on the day.
This strategic merger, if finalised, is expected to significantly enhance Walton Hi-Tech鈥檚 product portfolio by integrating Walton Digi-Tech鈥檚 innovative range of laptops, computers, mobile phones, PCBs, and electric bikes.
The consolidation will expand market reach, reduce operating costs, and strengthen Bangladesh鈥檚 position as a hub for high-tech and digital manufacturing, it said.
Regarding the proposed merger, Walton Hi-Tech chief financial officer Md Ziaul Alam said, 鈥業 extend my best wishes and congratulations to all the members of the board of directors of Walton Hi-Tech Industries PLC, general investors, and countless buyers and well-wishers for endorsing the agreement following the merging proposal such a reputable company. If the merger finalised, Walton Hi-Tech鈥檚 business will expand further. Investors will benefit from this initiative.鈥�
Walton Digi-Tech additional managing director Liakat Ali echoed Md Ziaul Alam in his remarks.
According to the release, Walton Digi-Tech currently manufactures and markets 123 sorts of high technology-based products and accessories, laptops, computers, printers, mobile phones, printed circuit boards or PCBs and electric bikes.
As of the fiscal year ended on June 30, 2024, Walton Digi-Tech鈥檚 paid-up capital was Tk 30,00,00,000 and net revenue was Tk 1,01,59,100,146 and profit after tax was Tk 18,14,23,640.
At the same time, Walton Hi-Tech鈥檚 paid-up capital was Tk 3,02,92,83,430 and net revenue was Tk 75,12,11,54,616.43 and profit after tax was Tk 13,565,259,327.83.
The company manufactures, markets and exports various home and electrical appliances including refrigerators, compressors, air conditioners, televisions, elevators, fans, cables, washing machines, etc.
