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Atlas Bangladesh Ltd (ABL) announced a new venture with Runner Automobiles to establish a helmet manufacturing factory.
The two companies signed a memorandum of understanding (MoU) to form the “Atlas-Runner Helmet Plant”, as per a disclosure on the Dhaka Stock Exchange (DSE).
Following the news, Atlas Bangladesh’s shares surged by 9.94 percent to Tk 56.4 in morning trade at the DSE.
Atlas Bangladesh Ltd began operations in 1966 with Honda Motor Company and was nationalised in 1972 and is currently under the Bangladesh Steel & Engineering Corporation.
At present, ABL operates in partnership with Zongshen motorcycle company from China.
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