China-Bangladesh joint venture (JV) CMZ Zipper Sci & Tech (Bangladesh) Co. Limited recently signed an investment agreement with Bangladesh Export Processing Zones Authority (BEPZA) for setting up a garments accessories factory in the Adamjee export processing zone (EPZ). As a backward linkage industry, the enterprise would contribute to reduce lead time of the industry.
CMZ Zipper will invest $11.50 mn for producing 134 mn pieces of zippers, buttons, metal rivets and eyelets, badges, buckles, hooks and bar every year. It will create jobs for 1,303, according to information posted by BEPZA.
