DSSL is listed with Dhaka and Chittagong Stock Exchanges with a paid-up capital of Tk200 crore.
Dragon Sweater and Spinning Limited (DSSL), one of the largest integrated sweater and spinning projects in South Asia, has ever since its inception been drawing huge attention from the leading global buyers to source their world-class sweaters and pullovers.
According to a press release, DSSL is listed with Dhaka and Chittagong Stock Exchanges with a paid-up capital of Tk200 crore.
The pioneer in the country’s sweater manufacturing and exporting sector, DSSL, which enjoys laudable repute and market share around the world for its quality sweaters and yarns, is the flagship company of Dragon Group.
The Group, a leading conglomerate in Bangladesh, has immensely patronized and facilitated many others to try their fortune in the country’s RMG industry.
Mostafa Golam Quddus, the founder and chairman of Dragon group, started the DSSL as the country’s very first sweater project at Malibagh, Dhaka, early in the ’80s with technical collaboration from Hong Kong and China, the export-oriented sweater industry of Bangladesh literally did hit the road. That embryonic journey finally has led Bangladesh to export worth $5 billion in sweaters in the last fiscal year.
The industry now employs more than a million people directly, and many more in its related sub-sectors.
In the last 30 years, Dragon Group has invested heavily in the backward linkage to accrue huge operational synergy which has, result in reduced costs and shorter delivery time. Dragon group produces all the yarns it needs to meet its export demand, this has allowed the export house to maintain its high-end quality and unmatched efficiency.
To attain operational synergy further, however, the factory of the group’s other concern, Dragon Sweaters Bangladesh Limited (DSBL), has been successfully operating since 1991 with a paid-up capital of Tk424 crore and has recently been in transition to relocate from Dhaka to Comilla.
Addressing the relocation, talking to this correspondent recently, the chairman of Dragon Group, Mostafa Golam Quddus said: “Dragon Sweater is the largest integrated project of its kind in South Asia. Its clientele is studded with the top global buyers. Our valued buyers want us to grow further. As a result, we must rise to the occasion, we need to relocate some of our production bases outside Dhaka to accommodate expansion and attain the optimum level of operational synergy.”
ISO 9001:2000 certified for quality control, DSSL presently exports to the USA, Canada, Mexico, Brazil, Chile, Japan, Australia, United Kingdom and several other countries in Europe.
The group chairman said every year the demand for yarns and sweaters produced in Bangladesh is growing at an exponential rate and so an increase in capacity and expansion of production bases of the manufacturers are mandatory to keep the pace. As the demand for goods produced from the composite project, DSSL too has been rising immensely, as Mostafa Golam Quddus maintained, the company plans to expand its sweater manufacturing capacity as well as the spinning capacity to serve its buyers by way of meeting its rising demand for acrylic and other yarns by itself. Being leveraged by the group’s synergistic advantage further, DSSL intends to retain its position as the top and largest sweater and pullover manufacturer and exporter in Asia, he added.
“Located in Comilla in its own industrial complex situated just on the Dhaka-Chattogram Highway, DSSL employs a huge number of local people. Now, the relocation of the DSBL factory to that complex will create added employment opportunities further and contribute to the development of the locality in diverse ways. The synergy of production will amplify quality as well as economies of scale, the amalgamation will represent the evolution of industrialization in the sweater industry” Mostafa Golam Quddus concluded.
