Square Textiles Plc (Bangladesh)

Square Textiles Plc is a textile company located in Dhaka, Bangladesh. It was established in 1997 and quickly became a leading player in the local textile industry. The company operates with modern technology and skilled manpower, resulting in a sophisticated vertically integrated set-up. Square Textiles Plc has three units, with the first unit established in 1997, followed by the second unit a year later, and the third unit in 2000. The company has made significant investments in these units, with Unit 1 having an investment of US$20.00 million, Unit 2 with US$13.50 million, and Unit 3 with US$12 million. The production capacity of Unit 1 is 36,288 spindles with a daily production capacity of 20,000 kilograms. Unit 2 has 23,184 spindles with a daily production capacity of 12,000 kilograms, as well as 768 rotors with a daily production capacity of 8,000 kilograms. Unit 3 has 3,192 open end heads with a daily production capacity of 20,000 kilograms. Square Textiles Plc utilizes machinery from renowned brands such as Riete r (Switzerland), Toyoda (Japan), Schlafhorst (Germany), Uster Technologies AG, Luwa (Switzerland), and McQuay (USA). The company emphasizes top-quality products at affordable prices, aiming to cater to the economic class of people in the country. Square Textiles Plc also values its social obligations and strives to protect the capital and ensure the highest return and growth of assets for its shareholders. The company provides competitive compensation packages to its employees and maintains good relationships with creditors, debtors, suppliers, and customers. Square Textiles Plc fulfills its responsibility to the government by paying taxes, duties, and claims to various public agencies. The company also upholds ethical practices, promotes a social order devoid of malpractices, and avoids discriminatory practices. The company is committed to practicing good governance in all aspects of its activities, including disclosure and reporting to shareholders, distribution of dividends and benefits, acquisition of shares by insiders, recruitment and promotion of staff, procurement and supplies, sale of assets, and other activities that impact the interests of stakeholders.