Olympic Industries enters into 3rd-party manufacturing agreement

Olympic Industries enters into 3rd-party manufacturing agreement

The authorities of Olympic Industries have stated that in order to meet the growing demand for their quality biscuits, they have entered into a third-party manufacturing agreement whereby Haque Brothers (Industries) Ltd. shall produce in its factory, upto 600 MT of biscuits per month for Olympic Industries Limited.

The Board of Directors of Olympic Industries Ltd. have approved the above arrangement. Production shall be carried out under strict supervision of Olympic and will be subject to the same standards and care afforded to biscuits directly produced by Olympic.

It is anticipated that production at Haque's factory shall commence around 15.09.11. The initial term of this agreement is 24 months from commencement of production and the agreement may be renewed upon the mutual agreement of the parties, according to DSE website.