Additionally, the company will expand the workforce of the factory
Local multinational electronics and electrical company Walton has decided to increase production of its nut, bolts, and screw, to meet the growing demand of locally made fasteners.
As a part of this plan, Walton is going to install advanced machineries at its fasteners manufacturing unit in Gazipur, with the aim of tripling the production capacity of the existing unit, said a press release.
Additionally, the company will expand the workforce of the factory.
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.
Speaking about the issue, proprietor of New Nasir Hardware Md Nasir Uddin said that earlier he had to incur more costs as he used to import a large volume of fasteners. Often, he did not get the proper quality as per his requirements.
“However, buying Walton’s fasteners helped me save a lot of money and time,” he said.
Head of Industrial Solutions Department of Walton Abdur Rouf said that they are manufacturing world-class nuts, bolts, and screws, using sophisticated machineries at Walton Hi-Tech Industries.
He added that the annual production capacity of their unit is around 1800 tons, 360 to 400 tons of which Walton annually uses to manufacture its appliances.
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.